Friends Provident ha delle subordinate in sterline che prezzano davvero basse
XS0430178961 LT2 2021 YTC 9.3%
XS0222395468 T1 2015 YTC 15.5% cumulativa
XS0181161380 T1 2019 YTC 12.6% cumulativa
tutte con rendimento cedolare del 10%
vorrei approfondire su queste sub.
ho trovato questa offerta di scambio, ha avuto un seguito?
8 May 2009
FRIENDS PROVIDENT PLC ANNOUNCES AN EXCHANGE OFFER TO HOLDERS OF ITS STEP-UP TIER ONE INSURANCE CAPITAL SECURITIES (STICS)
Friends Provident plc ("The Issuer" or "the Group") has today invited holders (subject as set out under "Offer Restrictions") of its £300,000,000 6.875 per cent. Step-Up Tier one Insurance Capital Securities
(XS0181161380) issued on 21 November 2003 (the "2003 STICS") and £500,000,000 6.292 per cent. Step-Up Tier one Insurance Capital Securities
(XS0222395468) issued on 30 June 2005 (the "2005 STICS", together with the 2003 STICS, the "Existing Securities") to offer to exchange (the "Exchange Offer") up to £300,000,000 aggregate nominal amount of such Existing Securities for Sterling Denominated Fixed Rate Subordinated Guaranteed Notes due 2021 (the "New Notes"). Friends Provident will, in relation to each Series of Existing Securities, determine the Exchange Price and aggregate principal amount to be exchanged pursuant to a modified Dutch auction procedure as described in the Exchange Offer Memorandum (the "Modified Dutch Auction"). The Exchange Offer is made on the terms and subject to the conditions set out in the Exchange Offer Memorandum dated 8 May 2009 (the "Exchange Offer Memorandum").
POLICYHOLDER INTERESTS
Policyholder interests will not be adversely affected by the exchange offer. The overall amount of IGD capital resources of the Group will not be changed by the offer, although the composition will change.
RATIONALE FOR THE INVITATION
The rationale for the Exchange Offer is to strengthen the capital position of the Group following its strategic review and in advance of the proposed demerger of F&C Asset Management plc.
THE EXCHANGE OFFER
The Existing Securities and the New Notes for which they may be exchanged are comprised as follows:
Description of the Existing Securities
Common Code/ISIN
Maximum Exchange Prices
Minimum Exchange Prices
Exchange Price
£300,000,000 6.875 per cent. Step-Up Tier one Insurance Capital Securities
018116138/
XS0181161380
£530
£430
To be determined pursuant to a modified Dutch auction
£500,000,000 6.292 per cent. Step-Up Tier one Insurance Capital Securities
022239546/
XS0222395468
£530
£430
To be determined pursuant to a modified Dutch auction
Description of the New Notes
Common Code/ISIN
Minimum New Issue Amount
New Notes Price
Target Exchange Amount
New Notes Coupon
12 per cent
Subordinated Guaranteed
Notes due 2021
To be confirmed
£100,000,000
100 per cent.
up to £300,000,000
12 per cent.
ciao
ps ultima news:
On 5 November 2009, Friends Provident was acquired by Resolution Limited.
For details of shareholder services, please visit the
shareholder page on the Resolution website.
Historic information about Friends Provident shares is available within this section.
