1 Jun 2021 07:30
FOR IMMEDIATE RELEASE
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
NOTICE TO NOTEHOLDERS
RSA INSURANCE GROUP PLC
(a public limited company incorporated in England and Wales)
Notice of redemption to the holders of the £350,000,000 Senior 1.625 per cent. Notes due 28 August 2024 (ISIN: XS2041038444; Common Code: 204103844) (the "Notes")
London, UK: 1 June 2021.
RSA Insurance Group plc (the "Issuer") hereby gives notice of redemption to the holders of the Notes.
Pursuant to Condition 6.4 (Optional Redemption Amount redemption at the option of the Issuer) of the terms and conditions of the Notes (the "Conditions"), the Issuer is exercising its option to redeem in full all of the outstanding Notes on 16 June 2021 (the "Optional Redemption Date").
Each Note shall be redeemed at the Optional Redemption Amount together with interest accrued to (but excluding) the Optional Redemption Date. The Optional Redemption Amount shall be an amount equal to the principal amount outstanding of the Notes multipled by the greater of: (i) 100 per cent.; and (ii) the price (expressed as a percentage and rounded to three decimal places, with 0.0005 being rounded upwards), as reported in writing to the Issuer and the Trustee by an Independent Adviser, at which the Gross Redemption Yield (determined by reference to the mid-market price) on the Notes on the day which is two Business Days prior to the Optional Redemption Date is equal to the Reference Bond Redemption Rate. Pursuant to Condition 6.7 (Cancellations) of the Conditions, all Notes redeemed will be cancelled.
Terms used but not defined in this announcement shall have the meanings given to them in the Conditions.
For further information, holders of the Notes should contact:
Intact Financial Corporation
Ken Anderson, SVP, Investor Relations & Corporate Development Ryan Penton, Director, Investor Relations Diane Flanagan, VP, Corporate Affairs & Communications
| + 1 855 646 8228 ext 87383 + 1 416 316 3495 + 1 647 456 7931 |
RSA Insurance Group plc
Rupert Taylor Rea, Group Financial Performance & Investor Relations Director
| Tel: +44 (0)7881 677400 |
Matthew Cohen, Head of Investor Relations | Tel: +44(0) 7967 343633
|
Natalie Whitty, Communications Director | Tel: +44(0) 7584 342052 |
This announcement is released by RSA Insurance Group plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"), encompassing information relating to the Notes. For the purposes of UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, this announcement is made by Jonathan Cope, Head of Legal UK & International of the Issuer.