Volcanic cloud delays Lloyds bond issue
Lloyds Banking Group has delayed meeting investors on a planned residential mortgage-backed bond sale because of air travel disruptions, one of the banks managing the sale said on Monday. Plans for the bond deal were announced last Thursday, but investor meetings could not take place because of transport disruptions caused by the volcano eruption in Iceland, which has grounded flights for the past five days. The meetings will be rescheduled when there is clarity over travel arrangements, one of the managing banks said. A Lloyds’ spokeswoman confirmed the postponement of the meetings, but declined to comment further.