RoyalBank of ScotlandGroup PlcandBarclays Capital are managing the newbond issue and LloydsTSBCorporateMarketsand HSBC Holdings Plc are jointbookrunners.
Its importance has grown in recent years after the banking crisis forced two of the U.K.'s largest financial institutions, Lloyds Banking GroupPLC and Royal Bank of Scotland GroupPLC, to halt dividend payments after the government bailed them out.