Old Mutual capital funding LP:issue of preferred s
OLD MUTUAL CAPITAL FUNDING LP: ISSUE OF PREFERRED SECURITIES
Today Old Mutual plc announces the issue of $750m of 8% Guaranteed Cumulative
Perpetual Preferred Securities by Old Mutual Capital Funding LP, a subsidiary
undertaking of Old Mutual plc. These Preferred Securities will be listed on the
Luxembourg Stock Exchange.
Old Mutual Capital Funding LP will invest the proceeds of the issue in $750m of
8% Subordinated Cumulative Perpetual Notes issued by Old Mutual plc under its
GBP1,500m Global Medium Term Note Programme. These Subordinated Notes will be
listed on the London Stock Exchange and the proceeds of the issue will be
applied to the repayment of existing debt and for general corporate purposes.
22 May 2003
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