Aviva to buy back £800m in push to meet leverage targets

By Tyler Davies
04 Mar 2021

Aviva launched a buy back process for eight securities in euros and sterling on Thursday, covering senior bonds, tier two notes and tier one paper. The insurance company is looking to reduce its stock of debt quickly as a way of meeting its leverage ratio targets.

Aviva plans to repurchase up to £800m from the eight different bonds, which are worth about £5bn equivalent combined.

The offer includes the issuer’s €500m 0.625% October 2023 and €750m 1.875% November 2027 senior bonds in euros, as well as its €650m 6.125% July 2043, €700m 3.875% July ...

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