The Pension Insurance Corporation (PIC) has priced £250m of subordinated debt issuance to meet expected bulk annuity demand from defined benefit (DB) schemes.
The debt will have an annual coupon of 8.0%, a maturity of 10 years and it is proposed the bonds will be traded on the London Stock Exchange. PIC chief financial officer Rob Sewell said: "We have had...
Cannot lobby government
The local government pension pools for the South West and Midlands are actively hiring senior managers to lead and develop the innovative structures.
There is no reason to be pessimistic about the pensions challenge confronting the nation says former Bank of England governor, Lord Mervyn King.
17 providers already involved