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February 3, 2010

Secret of Lloyds’ capital raising success

by Gill Montia

Story link: Secret of Lloyds’ capital raising success

The recent record-breaking capital raising by Lloyds Banking Group was backed by state of the art web design provided by Northcote Internet, which claims to be the longest established UK webcast provider to the investor relations market.

The £9 billion debt exchange and £13.5 billion rights issue were complex not only because of the size and structure of the transactions but also because of the global nature of the bank’s investor base.

The Internet therefore proved to be a critical tool in providing access to documentation, which needed to be tailored by both country and offer.

London-based Northcote designed the website interfaces for the “Capital Raising” section of Lloyds’ site enabling it to handle all investor permutations and making it possible to allocate each document to one of a number of host pages, as required.

According to Northcote, the provision of such a facility was an important component for the success of the transaction and the participation of a trusted third-party supplier of website expertise was a necessity!

Lloyds’ spokesman, Douglas Radcliffe, agrees, saying: “We felt very confident that using the Lloyds Banking Group website in this way for a global capital raising of this size would be well received by many investors, but the level of on line interest beat all expectations.”

He adds: “The usability from both an investor and an investor relations perspective were critical and most certainly a factor in the success of the transaction.”

 

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