REG - Phoenix Group Hldgs - Announcement of Early Redemption

Phoenix groupAnnouncement

02/01/2025 08:45

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RNS Number : 8985R  Phoenix Group Holdings PLC  02 January 2025

 

 PHOENIX GROUP HOLDINGS PLC (the "Issuer")

U.S.$750,000,000 Fixed Rate Reset Perpetual Restricted Tier 1 Contingent
Convertible Notes (ISIN: XS2106524262) (the "Notes"), of which
U.S.$250,000,000 are currently outstanding

2 January 2025

Announcement of early redemption

Phoenix Group Holdings plc (the "Issuer") today gave notice to the holders of
the outstanding Notes that, pursuant to Condition 8(f) of the terms and
conditions of the Notes (the "Conditions") set out in Schedule 2 to the trust
deed dated 29 January 2020 (the "Trust Deed") between the Issuer and Citibank,
N.A., London Branch (as Trustee), the Issuer has exercised its option to
redeem all of the outstanding Notes on 4 February 2025 (the "Redemption Date")
at their principal amount together with any accrued and unpaid interest to
(but excluding) the Redemption Date.

Payment in respect of the Notes will be made through Euroclear Bank SA/NV and
Clearstream Banking, S.A., in accordance with their standard procedures.

Pursuant to Condition 8(b), if on the Redemption Date the Redemption and
Purchase Conditions are not met, then the redemption of the Notes shall
instead be suspended and such redemption shall occur only in accordance with
Conditions 8(c) and 8(d).

Unless otherwise defined herein, defined terms used have the meanings given to
them in the Trust Deed and the Conditions.

For further information:

 

Sally Campbell, Group Treasurer

+44 2045594751

Sally.Campbell@thephoenixgroup.com

 

Legal Entity Identifier (LEI) Number: 2138001P49OLAEU33T68

 

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