Royal London Royal London Announces Successful Debt Issue (6054E)
November 04 2015 - 10:47AM
UK Regulatory
TIDM32RM TIDM41BM
RNS Number : 6054E
Royal London
04 November 2015
Royal London Announces Successful Debt Issue
Today Royal London announced the launch of a GBP350 million
subordinated debt issue. The 13-year subordinated notes are issued
by RL Finance Bonds No. 3 plc and guaranteed by The Royal London
Mutual Insurance Society Ltd. The notes carry a coupon of 6 1/8(th)
% and are issued at par.
Tim Harris, Finance Director of Royal London said: "We are
delighted with the level of support from the market for this
transaction. Over 250 investors expressed an interest in the issue
which was almost 8 times oversubscribed. The timing of the issue is
opportune given the low level of market interest rates.
The proceeds will be used for general purposes and will provide
us with the flexibility to pursue our core strategic objectives and
develop our position as a truly customer-centric organisation."
This information is provided by RNS
The company news service from the London Stock Exchange
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