Added to YB: 2026-05-20
Pitch date: 2026-05-15
LLOY.L [neutral]
Lloyds Banking Group plc
+3.02%
current return
Author Info
No bio for this author
Company Info
Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial products and services for retail and commercial customers in the United Kingdom.
Market Cap
GBP 54.7B
Pitch Price
GBP 0.93
Price Target
N/A
Dividend
3.88%
EV/EBITDA
N/A
P/E
12.34
EV/Sales
N/A
Sector
Banks
Category
special_situation
Theodosian Capital | Stocks Update 15/5/2026 - LLOY – Capital considerations
LLOY.L (update): Seeking AT1 holder approval to subordinate AT1s to prefs, enabling reclassification of £0.4bn prefs (6.4-9.8% coupons) as Tier 2 capital from Jul '26. T2 bucket full at £7.5bn, allows capital optimization—refinance/buyback prefs w/ cheaper T2 (recent 10NC5 @ 5.6%). Trades 7.7x '27 EPS, 5.3% yield.
Read full article (1 min)