Co-op bond may fund Lloyds branch bid

James Quinn, 6:16, Sunday 6 November 2011

The Co-operative Group is considering launching its first retail bond to part-fund its expected bid for Lloyds Verde branches in a radical departure for the mutual organisation.

The Sunday Telegraph has learnt that the Co-op, led by chief executive Peter Marks, has carried out a detailed study of the benefits of making a move into the increasingly popular retail bond market.

The study was sanctioned by the Co-ops board, but due to the complex nature of the Co-ops ruling structure, it would need to be sanctioned not only by its group board, but also go to a vote of the Co-ops members.

It is thought the bond could raise several hundred million pounds for the group.

It is understood Mr Marks sees such a bond as a key element of the mutuals funding mix in the future, and a unique way of raising money from retail investors, given it has no way of raising equity from its members.

The Verde offer will initially be funded by institutional debt, but it is likely the retail bond could well form part of the funding mix

With that possibility, plus an easing of the pressure in Greece, might see a short term recovery in the LLOY sp on monday, ready for an even better recovery on tuesday when trading statement is made!

Harry you wish!

lol @ skinny 3170

fantastic news - yeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaa.....

6 November 2011 Last updated at 20:32 Share this pageEmail Print Share this page

Beleaguered Prime Minister George Papandreou has agreed that he will not lead the coalition, the statement said.

He and main opposition leader Antonis Samaras attended the talks, hosted by President Karolos Papoulias.

More talks will take place in the morning to decide who will lead the coalition.

Once the new leader has been named, the president will invite all parties to join the national unity government, the statement said.

The announcement follows a week of political turmoil over Greece's debt crisis....................... et cetera

roll on tomorrow.................

hc imo there will be a recovery of sorts b4 tuesday..... we'll see

dc lol yes - co op were always on the side lines - obviously hoping for a lower price this becomes interesting now - its currently a 3 way bid including the private equity group who are cash rich and the option as launching as a seperate stock market company which many of lloy big guns are keen on lol

potugese guy - no return likely he'll be history soon - though lloy onwards and upwards - even with his micro mgmt style one man dont make a c ompany and it is unlikely execs brought in will exit - good job they are there because they worked with him for years know his style and will be able to continue turn around without him - there is interesting stuff happening even right now tonight - yeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaa

All very odd to me. I hope his buds do not leave with him? As they say time will tell.
Good luck gibby.

lloy still a buy for me :-))))))))))))))))))))

He must have put some hours in to have what I would call burn out.

cheers dc - yep as you guessed a lot going on literally right now - it may seem odd but will come out in the wash sooner rather than later - i hope you have good luck also

he did - but as touched on in one of your aricles his micro mgmt was considered excessive and unhealthy by quite a few but his main problem was apparently when he dropped and broke his tea pot - never tasted the same again he said LOL!! that was a joke of course - no it was really excessive micro mgmt, the fact he thought he was 'unbreakable' in his own words, and the government inquisitions and grillings which was something new to him and unliked by him - shame he didnt delegate that out there and then - his reputation has taken a massive hit now

i think the saying - 'rod for your own back' quite apt in ho's case

Wrong man for the job, in blunt terms.

lol yes - maybe head of HR is next out the door!!!

however he has created a great buy in price with his demise :-))))

obviously wish the guy a speedy recovery

The clean-out of the executive floor by Horta-Osorio has done little for morale among the rank-and-file, particularly among Lloyds lifers, and it is said that talk of the them and us division was enough to anger Horta-Osorio, who is said to have regularly raised his voice to the people who reported to him.

Perhaps he was in the clean out and jumped before being pushed. Better then the usual of saying he left to pursue other interests. Good for the investor from the sound of it gibby.

Will Loyds get a refund from the recruitment agency.lol

the recruiting agency obviously do not use spec savers lol

all banks reversing right now - interesting

25p sometime this week imo.