Lloyds TSB fixed-rate corporate bond 'meets needs of investors'

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Lloyds TSB fixed-rate corporate bond 'meets needs of investors'

Investors may find that the new Lloyds TSB fixed-rate corporate bond meets their requirements in the changing economic landscape, according to a finance expert from the company.

Richard Shrimpton, head of capital markets issuance at Lloyds Banking Group, made his comments after the product was launched, offering 5.375 per cent interest annually for five years and three months.

He explained that the Lloyds TSB fixed-rate corporate bond was designed with the help of a network of retail brokers to try to meet the needs of investors.

"We are delighted to offer retail investors access to a product that guarantees a great rate of return without locking away capital," added Mr Shrimpton.

The product is available for a minimum balance of £1,000 and can be bought at increments of £100 above that figure, with the bond set to be admitted on to the London Stock Exchange.

Lloyds TSB recently released its corporate markets business barometer, which fell slightly from +49 to +42 between March and April.

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