Direct Line Group set to complete £500m planned subordinated debt issuance
Direct Line Insurance Group has announced it expects to complete a £500m issue of fixed/floating rate guaranteed subordinated notes due in 2042, and intends to seek a listing of the securities on the London Stock Exchange.
Guaranteed by UK Insurance Limited on a subordinated basis, the notes are scheduled to be issued by Direct Line Group on or about 27 April 2012. Coupon payments, initially at 9.25% per annum, will be
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