Debt Issuance & Tender Offer - Final Announcement

RNS

LEI Number: ZIMCVQHUFZ8GVHENP290

20 November 2025

Bupa Finance plc Announces Successful Issue of £400,000,000 6.625 per cent. Fixed Rate Subordinated Notes due 2045 and settlement of Tender Offer for its £400,000,000 5.00 per cent. Fixed Rate Subordinated Notes due 2026 (the "2026 Tender Notes") and £300,000,000 1.750 per cent. Fixed Rate Senior Notes due 2027 guaranteed by The British United Provident Association Limited (the "2027 Tender Notes")

Bupa Finance plc ("Bupa") today announces that on 18 November 2025 it successfully issued £400,000,000 6.625 per cent. Fixed Rate Subordinated Notes due 2045 (the "Notes"). The Notes are subject to the terms and conditions set out in the admission particulars dated 14 November 2025 relating to the Notes.

The notes have been admitted to trading on the International Securities Market by the London Stock Exchange plc. 

As announced on 18 November 2025, Bupa accepted for purchase £292,336,000 in aggregate nominal amount of the 2026 Tender Notes and £107,664,000 in aggregate nominal amount of the 2027 Tender Notes (together, the "Tender Notes") offered pursuant to its invitation to holders of the Tender Notes (the "Tender Offer"). The Tender Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 10 November 2025 (the "Tender Offer Memorandum") and, as more fully described in the Tender Offer Memorandum and the announcement dated 12 November 2025, had a target acceptance amount of up to £400,000,000 in aggregate of the nominal amount of the Tender Notes. The Settlement Date (as defined in the Tender Offer Memorandum) has now occurred and £107,664,000 in aggregate nominal amount of the 2026 Tender Notes and £192,336,000 in aggregate nominal amount of the 2027 Tender Notes remains outstanding.

Bupa's Group Chief Financial Officer, James Lenton said:

"The combination of the new Tier 2 bond issue, and tender offers in relation to certain senior and Tier 2 notes, enable us to enhance Bupa's capital base and demonstrate the continued financial flexibility of the Group. We are very pleased with the demonstration of support from our fixed income investor base as we focus on embedding our new 3x100 strategy and building towards our ambition of being the world's most customer-centric healthcare company."

Notes to editor

Enquiries

Investors

Gareth Evans (Treasury): [email protected]

Media

External Relations: [email protected] 

About Bupa

Established in 1947, Bupa's purpose is helping people live longer, healthier, happier lives and making a better world.

We are an international healthcare company serving over 60 million customers worldwide. With no shareholders, we reinvest profits into providing more and better healthcare for the benefit of current and future customers.

Bupa has businesses around the world, principally in Australia, the UK, Spain, Poland, Chile, Hong Kong SAR, India, Türkiye, Brazil, Mexico and New Zealand. The Group also has associate businesses in Saudi Arabia.

For more information, visit www.bupa.com.