By Devika Patel
Knoxville, Tenn., March 25 – Paragon Banking Group plc sold £150 million of 4.375% green fixed-to-floating rate notes (//BB+) due Sept. 25, 2031, according to a market announcement.
The notes will reset on Sept. 25, 2026 to a floating rate of gilt plus 395.6 basis points.
Proceeds will be used for green loans incentivizing landlords to mitigate the impact of climate change.
Paragon is a specialist finance provider based in Solihull, United Kingdom.
| Issuer: | Paragon Banking Group plc
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| Amount: | £150 million
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| Maturity: | Sept. 25, 2031
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| Description: | Green fixed-to-floating rate notes
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| Coupon: | 4.375% resets on Sept. 25, 2026 to gilt plus 395.6 bps
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| Announcement date: | March 25
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| Ratings: | Fitch: BB+
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