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M&G 6.5% 10/48 Bond
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Bond Description
Current Coupon
6.5%
Maturity Date
20/10/2048
Credit Risk
Medium
Currency
USD
Seniority
Senior Subordinated Unsecured
Coupon Type
Fixed-Fixed (Margin-over Index)
Country
GBR
Industry Type
Insurance
Callable
Yes
Perpetual
No
Guarantor
None
Bond RatingsA+
Issuer Rating1
A+
Last Rating Action
Affirmed on 2025-05-29
Issuer Rating Watch/Outlook
Rating Outlook Stable
Issue Rating2
BBB+
Last Rating Action
Affirmed on 2025-05-29
Issuer Rating Action History
14/06/2024
A+
Affirmed
Rating Outlook Stable
23/06/2023
A+
Affirmed
Rating Outlook Stable
05/07/2022
A+
Affirmed
Rating Outlook Stable
Yield Analysis
Yield3
5.74
Yield to Call
5.74
Z Spread (bps)
210.1
Duration
2.93
Next Coupon Date
20/10/2025
Accrued Interest
1.138
Next Call Date
20/10/2028
Next Call Price
100
Liquidity
Illiquid
Next Reset Date
20/10/2028
Reset Index (Current Level)
4.040%
Spread
441.4bp
Reset Index
H15T5Y (US Treasury Yield Curve Rate T 5Y)
Bond Additional Information
ISIN Code
XS1888930150
Registration Type
Regulation S
Amount Issued
500,000,000
Amount Outstanding
500,000,000
Issue Date
03/10/2018
Issue Price
100
Coupon Frequency
2
Day Count
ISMA-30/360
Redemption Value
100
Min. Denomination
200,000
Footnotes:
1 Issuer rating is the Long-Term Issuer Default Rating (IDR). Ratings data provided by Fitch Ratings.
2 Issue rating is the Long-Term Issue Rating. Ratings data provided by Fitch Ratings.
3 Yield displays YTM. Exceptions are perpetuals, which will display "Not Applicable", and fix-to-float bonds, which will assume constant rate of coupon projection.
Last traded data sourced from BondCliQ.