June 14, 2018 / 6:54 AM / 2 months ago

BRIEF-Legal & General agrees 325 mln stg buy-in with Heathrow pension scheme

June 14 (Reuters) - Legal & General Group PLC:

* AGREES 325 MILLION STG BUY-IN WITH THE BAA PENSION SCHEME, COVERING THE PENSION OBLIGATIONS OF 1,300 SCHEME MEMBERS

* TRANSACTION INCLUDED INVESTMENT IN A BESPOKE LONG DATED INDEX-LINKED 160 MILLION STG BOND, ISSUED BY THE SCHEME’S CORPORATE SPONSOR, HEATHROW AIRPORT LIMITED, DIRECTLY TO LEGAL & GENERAL

* BOND FEATURES INDEX LINKAGE WHICH SWITCHES FROM RPI TO CPI, PROVIDES A VALUABLE ASSET FOR LEGAL & GENERAL’S 60 BILLION STG ANNUITY BOOK Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below