By Marisa Wong
Los Angeles, Oct. 11 – Shawbrook Group plc announced it issued £20 million of 6½% fixed-rate reset callable subordinated notes due 2029 and callable in 2024.
The notes will be treated as tier 2 regulatory capital, which will be used to support continuing growth of Shawbrook’s business while maintaining target capital ratios, according to a press release.
The issuer operates Brentwood, England-based Shawbrook Bank, a specialist savings and lending bank.
| Issuer: | Shawbrook Group plc
|
| Issue: | Fixed-rate reset callable subordinated notes
|
| Amount: | £20 million
|
| Maturity: | 2029
|
| Coupon: | 6½%
|
| Call option: | In 2024
|
| Settlement date: | Oct. 11
|
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