Published on 10/29/2015 in the Prospect News High Yield Daily.
New Issue: Rothesay Life prices £250 million 10-year subordinated notes at par to yield 8%
Portland, Ore., Oct. 29 – Rothesay Life Ltd. priced £250 million of 10-year subordinated notes at par to yield 8%, according to a company prospectus.
Goldman Sachs International, Barclays, HSBC and Lloyds Bank were the joint lead managers.
The London-based insurance company plans to use the proceeds for general corporate purposes.
| Issuer: | Rothesay Life Ltd.
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| Securities: | Subordinated notes
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| Amount: | £250 million
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| Maturity: | Oct. 30, 2025
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| Joint lead managers: | Goldman Sachs International, Barclays, HSBC, Lloyds Bank
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| Coupon: | 8%
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| Price: | Par
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| Yield: | 8%
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| Call: | Non-callable
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| Ratings: | Not rated
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| Pricing date: | Oct. 28
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| Settlement date: | Oct. 30
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| Distribution: | Regulation S
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