30th Jun 2026 10:44
Legal & General Group PLC - London-based insurer and asset manager - Invites bond holders to tender their notes for repurchase by the company. L&G's tender offer is for five sets of notes. These are USD850.0 million in fixed-rate subordinated notes due 2047, GBP375.0 million 5.875% notes due 2031, GBP200.0 million in 5.875% notes due 2033, GBP40.0 million in fixed-rate notes also due in 2033, and GBP10.0 million in fixed rate notes due 2041. The maximum acceptance amount for the tender offer will be GBP200.0 million. The US dollar notes will be repurchased at 100.55% of face, while the sterling notes will be repurchased at a spread of 25 basis points over a set of benchmark UK government bonds, or a spread of 60 points in the case of the 2041 notes. L&G also will pay accrued interest. All the repurchased debt notes will be cancelled.
Current stock price: 287.60 pence, up 1.2% in London on Tuesday
12-month change: up 13%
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Legal & General