Standard Life hits 91% take-up for buyback as markets wilt

12 Sep 2011

An above-par buyback price helped Standard Life’s cash tender offer achieve a 91% take-up rate against a backdrop of slumping early September markets.

The insurer closed a buyback of a €750m lower tier two issue at a cash price of 102 on Friday, agreeing to repurchase the €687m tendered. The 6.375% note has a final maturity of 2022 and a first call date in July next year. Deutsche Bank, JP Morgan ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.