Business Context and Reporting Period
This Form 6-K filing by Lloyds Banking Group plc, dated August 12, 2011, incorporates a capitalization table as of June 30, 2011. The document provides a snapshot of the Group's consolidated capital structure and indebtedness in accordance with IFRS.
Key Financial Metrics
The filing details the following capitalization and indebtedness figures as of June 30, 2011 (in millions GBP):
- Total Equity: 45,546 (comprising 44,909 in Shareholders' equity and 637 in Non-controlling interests).
- Total Indebtedness: 274,264.
- Subordinated Liabilities: 35,585 (includes certain preference shares classified as debt).
- Total Debt Securities: 238,679 (comprising 231,194 in debt securities in issue and 7,485 in liabilities held at fair value through profit or loss).
- Total Capitalization and Indebtedness: 319,810.
The filing does not provide data on revenue, profit, cash flow, or operating margins.
Material Changes and Debt Structure
There have been no issuances or redemptions of subordinated indebtedness since June 30, 2011. The registrant states there has been no material change in the information set forth in the capitalization table since that date.
Regarding security status:
- All indebtedness is unsecured except for 77.8 billion GBP of securitisations and covered bonds.
- Additionally, 16.7 billion GBP of debt securities issued by the Group's asset-backed conduits are secured.
- Excluding government-guaranteed funding programs, no indebtedness is guaranteed by persons other than Group members.
Guidance, Outlook, and Risks
This filing does not contain management commentary, forward-looking guidance, or specific risk factors beyond the disclosure of debt security structures. It serves strictly as an update to the capitalization table for incorporation into the company's Registration Statement on Form F-3.
Investor Verification Checklist
- Verify the classification of preference shares as debt under IFRS within the subordinated liabilities figure.
- Confirm the extent of government-guaranteed funding programs excluded from the guarantee disclosure.
- Review the specific terms of the 77.8 billion GBP in securitisations and covered bonds.
- Check subsequent filings for any material changes to the capitalization structure post-June 30, 2011.