Strong take-up for Lloyd's rights issue

Lloyds Banking Group said take-up for its record £13.5 billion rights issue totalled over 95 per cent, drawing a line under a turbulent few months for the lender. Lloyd's cash call - the world's largest to date - is a key plank of a £22.5 billion capital-raising effort to allow the bank avoid a state-backed insurance scheme for bad debts. A high take-up is the strongest indication yet of shareholder support for its turnaround efforts. - (Reuters)