Issue of Debt

9th Nov 2005 13:21

Portman Building Society09 November 2005 A Stg150m 15nc10 fixed to floating Lower Tier II transactionis now launched for PORTMAN BUILDING SOCIETY, rated A3 byMoody's, unrated by S&P and BBB+ by Fitch. Due 23 November 2020,the deal pays a semi-annual coupon of 5.25% until the call dateon 23 November 2015 when, if not called, the coupon resets to3mL+154bp. Issue price is 99.577. Spread is +90bp over the 4.75%September 2015. Joint leads are MERRILL LYNCH and RBS. Nofurther group. Fees undisclosed. Pay date November 23. FSA/ICMAstabilisation. This information is provided by RNS The company news service from the London Stock Exchange

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