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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Just Group Plc | LSE:JUST | London | Ordinary Share | GB00BCRX1J15 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 100.00 | 99.90 | 100.20 | 101.00 | 99.50 | 100.20 | 900,725 | 10:28:50 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Life Insurance | 2.24B | 129M | 0.1242 | 8.05 | 1.04B |
By Joe Hoppe
Just Group PLC said Thursday that it has completed a refinancing exercise, issuing 325 million pounds ($449.9 million) worth of sustainability-linked bonds.
The provider of retirement-income products and services said the exercise will reduce its pretax interest costs by GBP12 million a year, and improve its Solvency 2 post-tax organic capital generation by GBP10 million a year.
The bonds have an annual fixed rate up until Sept. 30, 2031, it said. This is the first time a sustainability RT1 bond has been issued by a European insurer.
An amount equal to the net proceeds of the bonds will be allocated to eligible green or social asset categories, including renewable energy, clean transportation, affordable and green homes and access to essential services.
"We were very pleased by the high level of investor interest, which has allowed us to further optimize Just's capital structure, whilst improving organic capital generation," Chief Executive David Richardson said.
Shares at 1525 GMT were up 0.6 pence, or 0.7%, at 92.1 pence.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
September 16, 2021 11:41 ET (15:41 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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