Launch and price of £250 million bond issue

Provident Financial plc launches and prices £250 million bond issue

Provident Financial plc today announces that it has launched and priced £250 million 5 year fixed rate bonds. The bonds will carry a semi-annual coupon of 7% and will be issued under the £2,000,000,000 Euro Medium Term Note Programme.

Provident Financial plc intends to use some or all of the proceeds to finance its tender offer for up to £250m of existing bonds maturing in October 2019, as announced on 22 May 2018 and expiring at 4:00 p.m. (London time) on 30 May 2018.

Malcolm Le May, CEO Provident Financial Group, said: "A key objective of rights issue, which raised £300m net of expenses and completed successfully in April, was to enable the Provident Financial Group to re-access debt capital markets. I am delighted that the Group has today successfully priced a new senior unsecured 5 year £250 million bond. Securing this long term debt further strengthens the balance sheet, providing the Group with the ability to continue to develop its market leading franchises."

For further information, please contact:

Provident Financial

Debt Investors

Phil Shepherd, Group Treasurer 01274 351351

Media

Richard King, Group Head of Communications 01274 351351