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
  -0.10 -0.11% 92.00 91.85 92.15 94.40 90.90 94.40 512,448 16:35:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Life Insurance 4,645.2 236.7 16.1 5.7 956

Just Group Refinances via Issue of GBP325 Million in Sustainability Bonds

16/09/2021 4:56pm

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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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