RSA.L

RSA Insurance Group Plc
RSA Insurance Group - Notice of redemption to noteholders
1st June 2021, 06:30
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 3911A
RSA Insurance Group Limited
01 June 2021
 

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018

NOTICE TO NOTEHOLDERS

 

RSA INSURANCE GROUP PLC

(a public limited company incorporated in England and Wales)

Notice of redemption to the holders of the £350,000,000 Senior 1.625 per cent. Notes due 28 August 2024 (ISIN: XS2041038444; Common Code: 204103844)  (the "Notes")

 

London, UK: 1 June 2021.

 

RSA Insurance Group plc (the "Issuer") hereby gives notice of redemption to the holders of the Notes.

 

Pursuant to Condition 6.4 (Optional Redemption Amount redemption at the option of the Issuer) of the terms and conditions of the Notes (the "Conditions"), the Issuer  is exercising its option to redeem in full all of the outstanding Notes on 16 June 2021 (the "Optional Redemption Date").

 

Each Note shall be redeemed at the Optional Redemption Amount together with interest accrued to (but excluding) the Optional Redemption Date. The Optional Redemption Amount shall be an amount equal to the principal amount outstanding of the Notes multipled by the greater of: (i) 100 per cent.; and (ii) the price (expressed as a percentage and rounded to three decimal places, with 0.0005 being rounded upwards), as reported in writing to the Issuer and the Trustee by an Independent Adviser, at which the Gross Redemption Yield (determined by reference to the mid-market price) on the Notes on the day which is two Business Days prior to the Optional Redemption Date is equal to the Reference Bond Redemption Rate. Pursuant to Condition 6.7 (Cancellations) of the Conditions, all Notes redeemed will be cancelled.

 

Terms used but not defined in this announcement shall have the meanings given to them in the Conditions.

 

For further information, holders of the Notes should contact:

 

 Intact Financial Corporation

 

Ken Anderson, SVP, Investor Relations & Corporate Development

Ryan Penton, Director, Investor Relations

Diane Flanagan, VP, Corporate Affairs & Communications

 

+ 1 855 646 8228 ext 87383

+ 1 416 316 3495

+ 1 647 456 7931

 

RSA Insurance Group plc

 

Rupert Taylor Rea, Group Financial Performance &

Investor Relations Director

 

Tel: +44 (0)7881 677400

Matthew Cohen, Head of Investor Relations

Tel: +44(0) 7967 343633

 

Natalie Whitty, Communications Director

Tel: +44(0) 7584 342052

 

This announcement is released by RSA Insurance Group plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"), encompassing information relating to the Notes. For the purposes of UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, this announcement is made by Jonathan Cope, Head of Legal UK & International of the Issuer.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCFIFFRRAILIIL ]]>
TwitterFacebookLinkedIn