23rd Mar 2021 10:13
(Alliance News) - Paragon Banking Group PLC on Tuesday said it has accepted GBP130.9 million of the GBP150 million in notes tendered under an offer to repurchase fixed rate reset callable subordinated tier 2 notes due 2026.
The Solihull, West Midlands-based mortgage, savings and business finance provider repurchased the notes at a price of 103% of the principal amount of notes tendered. The offer will be settled on Friday, with GBP19.1 million of the notes remaining outstanding.
Barclays Bank, Merrill Lynch International and UBS AG London branch acted as dealer managers.
Shares in Paragon Banking were down 0.2% at 443.80 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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