Issue of Debt

RNS Number : 2619K

Beazley PLC

27 August 2019

 

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS AMENDED)

Announcement of Roadshow in relation to a proposed offering of Subordinated Tier 2 Notes by Beazley Insurance dac

Beazley plc announces that its subsidiary Beazley Insurance dac, in connection with a proposed offering of Subordinated Tier 2 Notes (the "Proposed Offering"), it has mandated J.P. Morgan Cazenove, Lloyds Bank Corporate Markets Wertpapierhandelsbank and NatWest Markets to arrange a series of fixed income investor meetings in Singapore, Hong Kong and London that will commence on Thursday 29 August 2019. The Proposed Offering is subject to market conditions.

The Notes will, if issued, be denominated in either Pounds Sterling or U.S. dollars, will have a tenor of 10 years and will be offered pursuant to Regulation S of the U.S. Securities Act 1933 (as amended) and, in the European Economic Area, only to qualified investors (as defined in Regulation (EU) 2017/1129 (as amended). The Notes are expected to be rated BBB+ by Fitch Ratings Ltd.

This announcement contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (as amended, "MAR"), encompassing information relating to the announcement of a series of fixed income investor meetings in connection with the Proposed Offering.  For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Christine Oldridge, Company Secretary. 

For further information on the Proposed Offering please contact:

Sally Lake ([phone]

Note to editors:

Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, United States, Canada, Latin America and Asia. Beazley manages seven Lloyd's syndicates and, in 2018, underwrote gross premiums worldwide of $2,615.3 million. All Lloyd's syndicates are rated A by A.M. Best.  Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber, property, marine, reinsurance, accident and life, and political risks and contingency business. Beazley Insurance dac is one of the main regulated operating entities of the Group and has oversight from the Central Bank of Ireland.  Beazley Insurance dac's principal activities include, amongst other items (i) the writing of direct non-life insurance business in the European Economic Area, (ii) providing capital to support the underwriting activities of Beazley Underwriting Ltd in the Lloyd's market and (iii) reinsuring Beazley Underwriting Ltd's activities.

 For more information please go to: www.beazley.com

 

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