Standard Life PLC (fka Phoenix Group Holdings PLC) (SDLF)

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Standard Life PLC (fka Phoenix Group Holdings PLC) (SDLF)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	FNCL	PRCD	SDLF	Standard Life PLC (fka Phoenix Group Holdings PLC)	£350		1	EMEA	Nov 28, 2023

Tranche #1Standard Life PLC (fka Phoenix Group Holdings PLC)

currency

GBP

size (m)

350.000

maturity

Dec 6, 2053

type

Fixed

tenor

30.000

call

registration

Reg S Only

benchmark

ranking

moody's

s&p

fitch

BBB+

size description

re-open/tap

ipt

G+395 a

ipt-pxd

guidance

G+370 a

spread

365

coupon

7.75%

spread set

price

99.28200

yield

7.855%

book size (m)

1,750

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

book size (m)

1,750

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

,,,

passive leads

co-managers

coordinating managers

Tranche Comments

30 yr: Book size: 1750; Redemption: 2033-12-06; Registration: Reg S Only; Comments: GBP350m(upsized from GBP300m) 30NC10 Tier 2 bmk RegS. NR/NR/BBB+. BBVA/BofA/HSBC/JPM(B&D)/NatWest. With tender offer for GBP 6.625% 2025 & USD 4.75% 2031 Tier 2s. IPTs UKT 0.875% 07/33 +395 area, guidance UKT +370 area (+/-5 WPIR), launch 350m at UKT +365. Final books 1.75bn+ at reoffer (peak 1.85bn+). HR: 102% vs UKT 0.875% Jul 2033 @73.76 mid/76.74 bid). 100bp step at first reset. FTT 8am Weds. Tax Call: Yes. Reset Date: 2033-12-06. Regulatory Call: Yes. LEI: 2138001P49OLAEU33T68. PP: No. XD: No;

Deal Comments

Tier 2

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Standard Life PLC (fka Phoenix Group Holdings PLC) (SDLF)

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