Business Context and Reporting Period
This Form 6-K filing by Lloyds Banking Group plc, dated April 27, 2017, serves to update the company's capitalisation and indebtedness as of March 31, 2017. The document incorporates a capitalisation table prepared in accordance with IFRS and is intended to be incorporated by reference into the company's Registration Statement on Form F-3.
Key Financial Metrics
The filing provides a snapshot of the Group's consolidated capital structure as of March 31, 2017. Specific revenue, profit, cash flow, and margin data are not included in this report.
| Category | Item | Amount (£m) |
|---|---|---|
| Equity | Shareholders' equity | 44,303 |
| Other equity instruments | 5,355 | |
| Non-controlling interests | 454 | |
| Total equity | 50,112 | |
| Indebtedness | Subordinated liabilities | 18,969 |
| Debt securities in issue | 73,862 | |
| Liabilities held at fair value through profit or loss | 9,555 | |
| Total indebtedness | 102,386 | |
| Total capitalisation and indebtedness | 152,498 |
As of March 31, 2017, all indebtedness was unsecured except for £32.4 billion of securitisation notes and covered bonds and £2.3 billion of debt securities issued by the Group's asset-backed conduits.
Material Changes
The filing explicitly states that there have been no issuances or redemptions of subordinated liabilities since March 31, 2017. Furthermore, management confirms there has been no material change in the information set forth in the capitalisation table since that date.
Guidance, Outlook, and Risks
This specific filing does not contain forward-looking guidance, management commentary on future performance, or a discussion of risks and contingencies. It is strictly a disclosure of capital structure data.
Investor Verification Checklist
- Verify the total equity figure of £50,112 million against the most recent full annual report.
- Confirm the breakdown of secured debt (£34.7 billion total) versus unsecured debt within the total indebtedness of £102,386 million.
- Review the classification of preference shares as debt under IFRS rules as noted in the filing.
- Check for any subsequent filings that may have updated the capitalisation table since April 27, 2017.