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Virgin Money UK calls 8% fixed-rate reset perpetual notes at par
By Marisa Wong
Los Angeles, Oct. 10 – Virgin Money UK plc issued a notice of redemption for its 8% fixed-rate reset perpetual subordinated contingent convertible notes (ISIN: XS1346644799).
The notes will be redeemed in full on Dec. 8 at par plus accrued interest to the redemption date, according to the notice.
The company said the redemption follows its issuance of £350 million of 8.25% fixed-rate reset perpetual subordinated contingent convertible notes in June. The company had also conducted a tender offer for the 8% perpetual notes in June, as previously reported.
The Leeds, U.K.-based bank holding company originally issued £450 million of the notes.
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