Lloyds TSB logs $4 bln orders for hybrid securities

HONG KONG, May 15 (Reuters) - Lloyds TSB (LLOY.L: Quote, Profile, Research) has received a combined $4 billion in orders in its sale of euro- and dollar-denominated hybrid perpetual securities, two sources involved in the deal said on Thursday.

The books closed in the morning in London time and the deal is expected to price this week at a yield of 7.875 to 8 percent for each of the fixed-rate tranches, said the two sources, who were not authorised to talk publicly about the transaction and declined to be named.

Both declined to give the size of the expected issuance.

Lloyds had on Tuesday provided guidance of around 8 percent for each of the tranches, according to sources involved in the deal.

BNP Paribas (BNPP.PA: Quote, Profile, Research), Lloyds TSB Corporate Markets, Merrill Lynch (MER.N: Quote, Profile, Research) and UBS (UBSN.VX: Quote, Profile, Research) are the lead managers for the sale. (Reporting by Rafael Nam; Editing by Edmund Klamann)