A Kangaroo tranche is a bond that is issued in Australian dollars by foreign entities wanting to expand their investor base.
The agreement comprises three tranches consisting of £638m of Sterling notes, EUR500m of Euro notes and AUD$275m in Australian dollar notes.
In its role, BNY Mellon Corporate Trust will provide various services for the debt issue, including processing principal and interest payments and maintaining bondholder records.
BNY Mellon said that Lloyds Bank Corporate Markets was lead manager for the Sterling notes, Lloyds Bank Corporate Markets and Natixis for the Euro notes, and Lloyds Bank Corporate Markets, Australia branch, National Australia Bank and Macquarie Bank for the AUD notes.
BNY Mellon Corporate Trust head of the International region James Maitland said that Lloyds Banking Group chose BNY Mellon due to its cross-continental capabilities, extensive experience and expertise in the debt capital markets globally, and ability to offer clients comprehensive solutions that meet clients specific requirements.
