Insurance Age

Lloyd's repurchases £102m of debt securities

Lloyd's had offered to purchase up to £100m of the securities.

Lloyd's will purchase over £59.6m of its perpetual subordinated capital securities at a cost of almost £35.8m and a principal amount €47.3m (£42.4m) of its subordinated notes maturing in 2024 at a cost of €33.2m.

Luke Savage, Lloyd's finance director, said: "The decision to buy back some of our debt was a prudent move, which took advantage of our strong capital position, favourable market conditions, and perceived interest from holders

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: