Successful issue of new £60 million Tier 2 notes
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL
Rathbones Group Plc*
Successful issue of new £60 million Tier 2 notes
9 September 2026, London | Rathbones Group Plc (Rathbones or the Group) announces that it has successfully issued £60 million of tier 2 debt to maintain the efficiency of the Group's capital structure and for general corporate purposes, including the refinancing of its existing £40 million Tier 2 notes issued in 2021.
The new Tier 2 notes, which will be admitted to trading on the International Securities Market of the London Stock Exchange with the ticker 'RATLN', have a maturity of 9 December 2036 and a 3-month par call option exercisable from 9 September 2031 to 9 December 2031 at Rathbones' discretion, subject to compliance with usual prudential requirements. Interest is payable at a fixed rate of 8.125% per annum until the interest payment date falling in December 2031, with a reset spread over 5-year Gilts of 336.9 basis points thereafter if the call option is not exercised.
Iain Hooley, Group Chief Financial Officer, said: "We are pleased with the strong investor response to our first listed Tier 2 bond issue, which reflects confidence in Rathbones' strong capital position and the credibility of our long-term strategy. We would like to thank all investors we have met during the process. The new issuance forms part of our disciplined approach to capital management, ensuring an efficient capital structure for the Group while supporting our ambition to become the best wealth manager in the UK, by far."
ENDS
Notes to Editors
For further information, please contact:
Investors
Nicolas Duperrier, Investor Relations
Tel: +44 (0)20 7399 0405
Email: nicolas.duperrier@rathbones.com
Press
Hugh Morris, Corporate Communications
Email: hugh.morris@rathbones.com
Group Company Secretary
Ali Johnson
Email: ali.johnson@rathbones.com
* LEI: 213800MBTHM6UE8ZQP29
About Rathbones rathbones.com
Rathbones Group Plc (Rathbones) is one of the UK's leading providers of investment and wealth management services for private clients (individuals and families), charities, trustees, and professional partners. Rathbones' purpose is to help more people invest their money well, so they can live well.
With roots dating back to 1742, the company has been trusted for generations to manage, preserve and grow its clients' wealth. Services include discretionary investment management, fund management, tax planning, trust and company management, financial advice and banking services. Rathbones also supports financial advisers in its aim to deliver positive outcomes for their clients.
Rathbones manages £120.7 billion* of client assets, including £16.3 billion through its asset management arm, Rathbones Asset Management Limited. A FTSE 250 company, Rathbones has over 3,300 employees, including over 750 investment professionals in 21 offices across the UK and the Channel Islands, offering clients high-quality, personalised wealth management services.
*As of June 30, 2026
DISCLAIMER
This announcement is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction. The new Tier 2 notes (the Notes) were issued on 9 September 2026 following the successful completion of a book-building exercise.
The communication of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.
The manufacturer target market (UK MiFIR product governance) for the Notes is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) or disclosure document required by the FCA Product Disclosure Sourcebook (DISC) has been prepared as the Notes are not available to retail in the European Economic Area (EEA) or the United Kingdom (UK).
The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the Securities Act), or with any securities regulatory authority of any State or other jurisdiction of the United States, and may not be offered or sold to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except in transactions exempt from, or not subject to, the registration requirements of the Securities Act.
In the UK this announcement is directed only at (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the Order) and (ii) other persons to whom this announcement may otherwise lawfully be directed in compliance with the Order (together, relevant persons). This announcement must not be acted on by persons in the UK who are not relevant persons. Any investment or investment activity to which this announcement relates will only be available to and engaged in with relevant persons.
Customary distribution restrictions also apply in other jurisdictions, including in the EEA, Canada, Italy, Hong Kong and Singapore.
The full terms and conditions of the Notes are set out in Admission Particulars dated 7 September 2026 and prepared by Rathbones.
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