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 hav...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
