Lloyds Bank recovers from 'toxic shock'

Lloyds Banking Group is to embark on a record-breaking rights issue in its attempts to escape the government's insurance scheme for toxic assets

Lloyds Banking Group (LSE: LLOY) launched a £13.5bn rights issue this week a world record. It was priced at a 60% discount to its share price last Monday. The fundraising was overshadowed by the Bank of England's revelation that it had extended £61.6bn in emergency funds to RBS and HBOS last autumn because they were on the brink of complete collapse.

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