By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – Aldermore Group plc priced its £60 million offering of 10-year 8½% callable dated subordinated notes at par on Friday, according to a press release.
Interest is payable semiannually, and notes mature on Oct. 28, 2026.
Royal Bank of Scotland plc is the structuring adviser, bookrunner and manager for the offering.
Settlement is expected to occur on Oct. 28.
Proceeds will be used to support Aldermore’s business growth, strengthen its capital position, optimize its capital structure and increase its capital planning flexibility.
Based in Peterborough, England, Aldermore provides banking and related services primarily to small and medium sized enterprises, property investors, savers and homeowners in the United Kingdom.
| Issuer: | Aldermore Group plc
|
| Amount: | £60 million
|
| Maturity: | Oct. 28, 2026
|
| Securities: | Callable dated subordinated notes
|
| Bookrunner: | Royal Bank of Scotland plc
|
| Coupon: | 8½%
|
| Price: | Par
|
| Yield: | 8½%
|
| Announcement date: | Oct. 21
|
| Settlement date: | Oct. 28
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
