Subordinated guaranteed SKK and DKK bonds
The subordinated guaranteed SEK 2,500m and DKK650m bonds were redeemed on 28 March 2022.
Subordinated guaranteed US$ bonds
The subordinated guaranteed US$9m bonds have a redemption date of 15 October 2029. The rate of interest payable on the bonds is 8.95%.
Guaranteed subordinated notes due 2045 (GBP)
The subordinated guaranteed notes were issued on 10 October 2014. The bonds have a nominal value of £400m and bear a fixed rate of 5.125% until redemption on 10 October 2045.
On 21 September 2021, the Group invited holders of the notes to participate in a cash purchase offer for the outstanding notes. The offer period expired on 28 September 2021 and the Group announced it had accepted £240m nominal value of bonds. Accordingly, the remaining nominal value of the notes outstanding is £160m.
All bonds
The bonds and notes are contractually subordinated to all other creditors of the Parent Company, such that in the event of a winding-up, or bankruptcy, they are to be repaid only after the claims of all other creditors have been met.