Lloyds offers exchange of bonds

• Lloyds (NYSE:LYG) moves further to comply with new capital standards, offering to swap new securities or cash for a large percentage of £8.4B in so-called enhanced capital notes issued during the financial crisis. At issue is the bank's belief the notes "will not provide going concern benefit under future stress tests."
• Lloyds expects to take a charge of about £1B in H1 if all of the new securities are issued.
• Shares +1.4% premarket