Royal London increases T2 bond size after strong response in sterling

By David Freitas
30 Sep 2019

Royal London Mutual Insurance Society came off the back of a successful roadshow to sell £600m of tier two debt in the sterling market this week — a small increase above the amount it had initially expected to raise.

RL Finance Bonds No4 plc, a wholly-owned subsidiary of Royal London, was looking to sell a 30 year non-call 20 tier two bond at the beginning of the week. The company is a special purpose vehicle established to issue new securities.

The issuer chose BNP Paribas and ...

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