NatWest Group prunes legacy debt

By Frank Jackman
09 Apr 2021

NatWest Group plans to redeem a 36 year old perpetual bond as it continues to clean up its capital stack ahead of the CRR transitional deadline later this year.

The British bank announced on Wednesday that it would repurchase its series 'C' perpetual primary capital floating rate note, of which $285.3m remains outstanding.

The series 'C' note was issued by the NatWest Group’s predecessor National Westminster Bank as a $500m deal in November 1985.

Although the note ...

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