Friends Life to redeem all £267.84 million 6.292% capital securities

By Wendy Van Sickle

Columbus, Ohio, May 29 – Friends Life Holdings plc will redeem all £267,837,000 of its outstanding 6.292% step-up tier 1 insurance capital securities in full on July 1, according to a notice from the London Stock Exchange.

The notes will be redeemed at their principal amount with accrued interest up to, but excluding, the date of redemption, according to the notice.

Friends Life is a Dorking, England-based provider of pension, investment and life insurance products.

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