PIC picks up second tier two of the year

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By Frank Jackman
14 Oct 2020

Pension Insurance Corporation (PIC) sold its second tier two trade of the year, raising £400m with what some investors saw as an opportunistic move.

“I think a few accounts were surprised to see the trade,” said a banker away from the deal. “My gut feeling is that this was quite opportunistic given it already sold a 2031 tier two earlier this year to take advantage of the low rates and extend its ...

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