Aviva announces price of offer of Notes

RNS Number : 4470I

Aviva PLC

02 July 2013

 



2 July 2013

Aviva plc announces the pricing of its offering of EUR 650m of Dated Tier 2 Reset Notes.

Aviva plc ("Aviva" or the "Issuer")  announces the successful pricing of the offering of EUR 650 million Dated Tier 2 Reset Notes (the "Notes") to be issued under Aviva's £5,000,000,000 Euro Note Programme (the "Programme").

The transaction was launched following a roadshow in Europe and generated orders of EUR 3.8bn from over 330 investors (6 times oversubscribed). The strength of investor demand for this transaction enabled it to be priced 25bp inside initial price thoughts.

The Notes will bear interest at a fixed rate of 6.125% per annum until 5 July 2023. Thereafter, the interest rate may be recalculated on the First Note Reset Date and each Note Reset Date thereafter specified by reference to the 5 year mid-market swap rate for Euros plus a margin of 513bp. All interest on the Notes is payable annually in arrear. The Notes are expected to be issued on 5 July 2013, and will be admitted to the Official List of the UK Listing Authority and to trading on the Regulated Market of the London Stock Exchange.

The net proceeds of the issue of the Notes - which, at the date of issuance, are intended to qualify as Tier 2 Capital for the purposes of the group's regulatory capital resources - will be used for general corporate and financing purposes.

Barclays, Citigroup, HSBC, The Royal Bank of Scotland and Société Générale have been appointed as joint lead managers and DBS Bank Ltd. as co-manager in respect of the offering.

The offering is being made pursuant to a Drawdown Prospectus (the "Prospectus") to be dated on or around 5 July 2013 (which should be read together with the Base Prospectus for the Programme dated 20 November 2012, as supplemented by a Supplemental Prospectus dated 19 June 2013) which is compliant with Directive 2003/71/EC (as amended, together with any applicable implementing measures, including Directive 2010/73/EC).

This announcement does not constitute or form part of an offer to sell or the solicitation of an offer to subscribe for or otherwise acquire any securities. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 or with any securities regulatory authority of any other State or other jurisdiction of the United States. Accordingly, these securities may not be offered, sold or delivered in the United States or to, or for the account or benefit of, U.S. persons (as defined in the U.S. Internal Revenue Code of 1986, as amended, and regulations thereunder).

Please note that the information contained in the Prospectus may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries. Prior to relying on the information contained in the Prospectus, you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above requirement.

END

Enquiries:

Analysts

Colin Simpson                                                                        [phone]

David Elliot                                                                             [phone]

Aviva plc
St Helen's, 1 Undershaft
London EC3P 3DQ
Registered in England
Number 246868

 

END

 

 

MSCUGUMCMUPWGAP