Business
Update on Tender Offer
Aviva plc has announced the Capped Offers Maximum Acceptance Amount for its tender offers on outstanding €750,000,000 1.875% Senior Notes due 2027 and £350,000,000 Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes of Direct Line Insurance Group Limited. Following the pricing of new Tier 2 Notes, the maximum aggregate nominal amount for the RT1 and Senior Notes to be accepted for purchase has been set at £298,346,750, calculated as £498,346,750 (the nominal amount of new notes converted to Sterling at €1=£0.86669) less £200,000,000. The company retains discretion over the final acceptance amounts and allocation between the note series. Disclaimer*
About this update from Aviva Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF (I) ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018; AND (II) ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA OR IN OR INTO ANY OTHER JURISDICTION OR TO ANY OTHER PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT (SEE \"OFFER AND DISTRIBUTION RESTRICTIONS\" BELOW).\n\nAviva plc\n(incorporated in England and Wales with limited liability, registered number 02468686)\nannounces the Capped Offers Maximum Acceptance Amount for the tender offers for its outstanding €750,000,000 1.875 per cent. Senior Notes due 2027 (ISIN: XS1908273219) and the outstanding £350,000,000 Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes (ISIN: XS1728036366) of Direct Line Insurance Group Limited\n20 May 2026\nOn 19 May 2026, Aviva plc (the Offeror) announced separate invitations to eligible holders of (i) its outstanding £700,000,000 6.125 per cent. Fixed/Fixed Rate Reset Subordinated Notes due 2036 (ISIN: XS0138717441) (of which £200,000,000 in aggregate nominal amount remains outstanding) (the Tier 2 Notes) and €750,000,000 1.875 per cent. Senior Notes due 2027 (ISIN: XS1908273219) (of which €464,002,000 in aggregate nominal amount remains outstanding) (the Senior Notes); and (ii) the outstanding £350,000,000 Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes (ISIN: XS1728036366) (of which £350,000,000 in aggregate nominal amount remains outstanding) (the RT1 Notes and, together with the Tier 2 Notes and the Senior Notes, the Notes and each a Series) of Direct Line Insurance Group Limited (formerly known as Direct Line Insurance Group plc), in each case to tender their outstanding Notes for purchase by the Offeror for cash, on the terms and subject to the sati...