Just Group plc’s £230 million Subordinated Tier 3 Notes offering

Slaughter and May advised Just Group plc on its issuance of £230 million Subordinated Tier 3 Notes due 2025. The Notes bear interest at the rate of 3.500 per cent per annum and are listed on the Euro MTF Market of the Luxembourg Stock Exchange.

Formed in 2016 by the merger of Just Retirement and Partnership Assurance, Just is a specialist UK financial services group focussing on attractive segments of the UK retirement income market.

The Group is an established provider of retirement income products and services to individual and corporate clients.

ABN AMRO, Barclays and NatWest Markets acted as Joint Lead Managers on the issue.

Slaughter and May advised Just Group plc on the deal with a Financing team led by Stephen Powell (partner) and Caroline Phillips (partner, in picture), alongside Andrew Chaplin (associate), Xian Wei Yeo (associate); on Tax advised William Watson (partner) and Jamshed Bilimoria (associate).

Involved fees earner: Stephen Powell – Slaughter and May; Andrew Chaplin – Slaughter and May; Xian Wei Yeo – Slaughter and May; Caroline Phillips – Slaughter and May; William Watson – Slaughter and May; Jamshed Bilimoria – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Just Group plc;

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