14 Dec 2020 07:57
14 December 2020
Brit Limited
(the "Issuer")
£150,000,000 6.625% Subordinated Notes Due 2030
(the "Notes")
The Issuer has determined in its sole discretion not to exercise its call option to redeem the Notes in accordance with Condition 7(b) of the Notes.
As detailed in a notice to holders dated 9 February 2015 (the "Notice") the interest rate on the Notes will reset to the Higher Reset Rate of Interest being 3.4% plus the higher of either the Reset Rate of Interest (calculated in accordance to a Reference Bond due in 2021) and a Further Reset Rate of Interest (calculated by reference to a bond due in 2030).
In accordance with the Conditions and pursuant to the calculation set out in the Notice, the holders of the Notes are hereby notified that the Higher Reset Rate of Interest is 3.6757%.
Capitalised terms used but not defined herein shall have the meaning given to them in the terms and conditions of the Notes, as amended from time to time (the "Conditions").
Enquiries
Daniel Dixon : +44 (0)20 3857 0000
Antony Usher : +44 (0)20 3857 0000"
Brit 3.6757% (32OW)