Lloyds issued covered bonds due in 2032 as part of its ongoing borrowing. This gives it funding but also adds debt to repay, and the report gives no amount or borrowing cost to show a wider change.
The sale gives Lloyds funding but also adds debt it must repay. The report gives no total raised or borrowing cost, and calls this part of ongoing financing. It does not describe a change to the bank's business outlook.
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