Intercompany Funding: Exercise Issuer Call Option

RNS Number : 2280S

Old Mutual PLC

19 December 2016

 

Old Mutual plc

Ref 559/16

19 December 2016

Intercompany Funding: Exercise of Issuer Call Option - USD813,200,000 Floating Rate Notes due 18 November 2020 (ISIN:GB00B40PS426) (the "Notes")

Old Mutual plc (the "Company") hereby announces that it has given notice to the holder of the Notes, a wholly owned subsidiary of the Company, that it will redeem the Notes in whole and not in part pursuant to Condition 7(c) (Redemption at the option of the Issuer (Issuer Call)) effective on 30 December 2016.

The Notes will be settled through intercompany funding, such that the redemption of Notes will be neutral for the Company's liquidity and capital position.

Enquiries

External communications

Patrick Bowes                           UK        [phone]

Investor relations

Dominic Lagan                           UK        [phone]

Sizwe Ndlovu                             SA        [phone]

Media

William Baldwin-Charles                         [phone]

                                                            [phone]

Notes to Editors

Old Mutual provides investment, savings, insurance and banking services to 18.9 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

Old Mutual has announced a strategy of managed separation, which will entail separating its four businesses into standalone entities. The four businesses are:

Old Mutual Emerging Markets: An African financial services leader, providing long-term savings, protection, investment and lending to retail and corporate customers

Nedbank: Old Mutual owns a 54% stake in Nedbank, one of South Africa's top four banks, providing wholesale and retail banking, insurance and asset management for individuals and businesses

Old Mutual Wealth: a leading wealth management business in the UK and international markets

OM Asset Management: Old Mutual owns 65.8% in the New York Stock Exchange listed OM Asset Management which offers a diverse range of investment strategies and products for institutions, delivered worldwide through seven US-based boutiques.

For the year ended 31 December 2015, Old Mutual reported an adjusted operating profit before tax of £1.7 billion and had £304 billion of funds under management. For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at www.oldmutual.com 

 

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