Announcement of early redemption
Paragon Banking exercises option to redeem £150m subordinated notes due 2031 on 5 August 2026.
- Notes redeemed £150,000,000
- Interest rate 4.375%
- Original maturity 2031
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(ISIN: XS2312738599/ Common Code: 231273859) (the "Notes"),
of which £150,000,000 in aggregate principal amount is currently outstanding
Announcement of early redemption
Paragon Banking Group PLC (the "Issuer") today gave notice to the holders of the outstanding Notes that, pursuant to Condition 5(b) (Redemption at the option of the Issuer) of the terms and conditions of the Notes (the "Conditions") set out in Part 2 of Schedule 2 to the trust deed dated 21 March 2021 (the "Trust Deed") between the Issuer and Citicorp Trustee Company Limited (the "Trustee"), the Issuer has exercised its option to redeem all of the outstanding Notes on 5 August 2026 (the "Redemption Date") at their principal amount together with accrued and unpaid interest thereon to (but excluding) the Redemption Date.
The listing of the Notes on the Official List of the Financial Conduct Authority and the admission of the Notes to trading on the Main Market of the London Stock Exchange plc will be cancelled, and the display of the Notes on the Sustainable Bond Market of the London Stock Exchange plc will cease, on or shortly after, the Redemption Date.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.