Society of Lloyd’s launches £500mn tender offer
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Society of Lloyd’s launches £500mn tender offer

Aisling Finn
05 December 2022
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The Society of Lloyd’s has launched a tender offer to buy back some of its £500mn ($596mn) subordinated debt issued in 2014 to optimise its capital structure and debt maturity profile.

The debt notes were paying a 4.75% fixed rate and were due to mature in October 2024.

In an RNS update, Lloyd’s said it may buy back up to £250mn of the debt, at a cost that would reflect the...

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