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RNS Number : 6054E

Royal London

04 November 2015

Royal London Announces Successful Debt Issue

Today Royal London announced the launch of a GBP350 million subordinated debt issue. The 13-year subordinated notes are issued by RL Finance Bonds No. 3 plc and guaranteed by The Royal London Mutual Insurance Society Ltd. The notes carry a coupon of 6 1/8(th) % and are issued at par.

Tim Harris, Finance Director of Royal London said: "We are delighted with the level of support from the market for this transaction. Over 250 investors expressed an interest in the issue which was almost 8 times oversubscribed. The timing of the issue is opportune given the low level of market interest rates.

The proceeds will be used for general purposes and will provide us with the flexibility to pursue our core strategic objectives and develop our position as a truly customer-centric organisation."

This information is provided by RNS

The company news service from the London Stock Exchange

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November 04, 2015 11:47 ET (16:47 GMT)

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