RL Finance Bonds plc RL Finance Bonds plc to redeem Guaranteed Notes (4619A)

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RNS Number : 4619A

RL Finance Bonds plc

29 September 2015

29 September 2015

RL Finance Bonds plc to redeem GBP400,000,000 6.125 per cent. Perpetual Cumulative Step-up Subordinated Guaranteed Notes (of which GBP246m in aggregate principal amount remains outstanding)

RL Finance Bonds plc (the "Issuer") announces that it intends to give notice to the holders of its GBP400,000,000 6.125 per cent. Perpetual Cumulative Step-up Subordinated Guaranteed Notes which are guaranteed on a subordinated basis by The Royal London Mutual Insurance Society Limited (ISIN: XS0236968946) (the "Notes") that it will redeem the outstanding Notes in full on 15 December 2015 (i.e. the First Reset Date) at their principal amount together with accrued interest to (but excluding) 15 December 2015.

Contractual notice to the Noteholders, the Trustee and the Principal Paying Agent is expected to be delivered in accordance with the Conditions in the period commencing 60 days prior to the First Reset Date.

In addition, upon giving any such contractual notice to the Noteholders, the Issuer will apply to the Financial Conduct Authority, in its capacity as United Kingdom Listing Authority, to cancel the listing of the Notes with effect from the business day following the First Reset Date.

Capitalised terms not otherwise defined herein have the meanings given to them in the terms and conditions of the Notes.

-ENDS-

For further information please contact:

 
Gareth Evans                            0207 506 6715 
 [e-mail]            07919 170069 
Margherita Orlandini                    0207 506 6791 
 [e-mail]    07919 171953 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 29, 2015 02:01 ET (06:01 GMT)