RSA Insurance Group Limited Notice of redemption to noteholders (3911A)

TIDMRSA

RNS Number : 3911A

RSA Insurance Group Limited

01 June 2021

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018

NOTICE TO NOTEHOLDERS

RSA INSURANCE GROUP PLC

(a public limited company incorporated in England and Wales)

Notice of redemption to the holders of the GBP350,000,000 Senior 1.625 per cent. Notes due 28 August 2024 (ISIN: XS2041038444; Common Code: 204103844) (the "Notes")

London, UK: 1 June 2021.

RSA Insurance Group plc (the "Issuer") hereby gives notice of redemption to the holders of the Notes.

Pursuant to Condition 6.4 (Optional Redemption Amount redemption at the option of the Issuer) of the terms and conditions of the Notes (the "Conditions"), the Issuer is exercising its option to redeem in full all of the outstanding Notes on 16 June 2021 (the "Optional Redemption Date").

Each Note shall be redeemed at the Optional Redemption Amount together with interest accrued to (but excluding) the Optional Redemption Date. The Optional Redemption Amount shall be an amount equal to the principal amount outstanding of the Notes multipled by the greater of: (i) 100 per cent.; and (ii) the price (expressed as a percentage and rounded to three decimal places, with 0.0005 being rounded upwards), as reported in writing to the Issuer and the Trustee by an Independent Adviser, at which the Gross Redemption Yield (determined by reference to the mid-market price) on the Notes on the day which is two Business Days prior to the Optional Redemption Date is equal to the Reference Bond Redemption Rate. Pursuant to Condition 6.7 (Cancellations) of the Conditions, all Notes redeemed will be cancelled.

Terms used but not defined in this announcement shall have the meanings given to them in the Conditions.

For further information, holders of the Notes should contact:

Intact Financial Corporation

 
 Ken Anderson, SVP, Investor Relations &      + 1 855 646 8228 
  Corporate Development                        ext 87383 
  Ryan Penton, Director, Investor Relations    + 1 416 316 3495 
  Diane Flanagan, VP, Corporate Affairs &      + 1 647 456 7931 
  Communications 
 

RSA Insurance Group plc

 
 Rupert Taylor Rea, Group Financial Performance   Tel: [phone] 
  &                                                677400 
  Investor Relations Director 
 Matthew Cohen, Head of Investor Relations        Tel: [phone] 
                                                   343633 
 Natalie Whitty, Communications Director          Tel: [phone] 
                                                   342052 
 

This announcement is released by RSA Insurance Group plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"), encompassing information relating to the Notes. For the purposes of UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, this announcement is made by Jonathan Cope, Head of Legal UK & International of the Issuer.

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END

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June 01, 2021 02:30 ET (06:30 GMT)