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FINWIRES

Rathbones Group Issues GBP60 Million Tier 2 Notes

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Rathbones Group (RAT.L) issued 60 million pounds sterling of tier 2 notes for admission to trading on the London bourse's International Securities Market, according to a Wednesday filing.

The notes will mature on Dec. 9, 2036, and will have a three-month par call option exercisable from Sept. 9, 2031, to Dec. 9, 2031. They carry a fixed-rate interest of 8.125% per year until December 2031, with a reset spread over five-year Gilts of 336.9 basis points if the call option is not exercised.

Proceeds will be used to maintain the investment manager's capital structure and for general corporate needs, including the refinancing of its existing 40 million-pound tier 2 notes.

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