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RSA Insurance accepts £40.2 million of notes in tender offer
Chicago, June 2 – RSA Insurance Group Ltd. announced it received and accepted tenders for £40,199,000 of notes in its any-and-all tender offer relating to the £400 million fixed-rate reset guaranteed subordinated notes due 2045 with a first call date on Oct. 10, 2025 (ISIN: XS1120081283).
The purchase price will be 96.975, based on the 2% U.K. Treasury due September 2025 and a fixed spread of 200 basis points plus 3.356% in accrued interest.
The offer expired at 11 a.m. ET on June 1.
Pricing took place at 8 a.m. ET on June 2.
Settlement will be on June 6.
The dealer managers are Citigroup Global Markets Ltd. (+44 20 7986 8969; liabilitymanagement.europe@citi.com) and HSBC Bank plc (+44 20 7992 6237; LM_EMEA@hsbc.com).
The tender agent is Kroll Issuer Services Ltd. (+44 20 7704 0880; rsa@is.kroll.com; https://deals.is.kroll.com/rsa).
RSA is an insurance company based in London.
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