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Paragon Banking Grp (PAG)

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Friday 30 July, 2021

Paragon Banking Grp

Notice of Redemption

RNS Number : 9334G
Paragon Banking Group PLC
30 July 2021
 

PARAGON BANKING GROUP PLC
(formerly known as The Paragon Group of Companies PLC)

 

NOTICE OF REDEMPTION

£150,000,000 Fixed Rate Reset Callable Subordinated Tier 2 Notes due 2026

(ISIN: XS1482136154 / Common Code: 148213615)
(the "Notes")

 

30 July 2021

 

Paragon Banking Group PLC (the "Issuer") hereby gives notice of redemption to the holders of the Notes.

 

Pursuant to Condition 5(b) (Redemption at the option of the Issuer) of the terms and conditions of the Notes (the "Conditions"), it is exercising its option to redeem in full all of the outstanding Notes on 9 September 2021 (the "Redemption Date").

 

The Notes shall be redeemed at an amount equal to their principal amount together with unpaid interest accrued to (but excluding) the Redemption Date.

 

Pursuant to Condition 5(f) (Cancellation) of the Conditions, all Notes redeemed will be cancelled. Accordingly, the listing of the Notes on the Official List of the Financial Conduct Authority and the admission of the Notes to trading on the Main Market of the London Stock Exchange plc is expected to be cancelled on, or shortly after, the Redemption Date.

 

Terms used but not defined in this announcement shall have the meanings given to them in the Conditions.

 

For further details please contact:

 

Ciara Murphy, Deputy Company Secretary

07974 980152

 

Paragon Banking Group PLC

51 Homer Road

Solihull

West Midlands B91 3QJ

United Kingdom

 

LEI: 213800S1TDKIB1IUTS72

 

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