Phoenix Group’s strong financial position has been recognised by Fitch Ratings who assigned investment grade ratings for the Group’s senior and subordinated debt.

Phoenix Group will manage leverage at a level consistent with maintaining the investment grade ratings.

Credit ratings assigned to the Group's companies

Rating type

Entities

Fitch rating

Outlook

Insurer Financial Strength Ratings

Phoenix Life Limited
Phoenix Life Assurance Limited
Standard Life Assurance Limited
ReAssure Limited

AA-

Stable

Long-Term Issuer Default Rating

Phoenix Group Holdings plc
Phoenix Group Holdings

A+

Stable

Subordinated debt

Issuer

Nominal

Coupon

Issued

Call Option/ Optional Redemption Date

Maturity date

Fitch rating

ISIN

Bondholder documentation

Phoenix Group Holdings plc

£350m

7.750%

06/12/2023

From 06/06/33 to 06/12/33 (First reset date)

06/12/2053

BBB+

XS2726389427

Download final terms of the notes dated Dec 2023

 

Phoenix Group Holdings plc

$350m

4.750%

04/06/2020

From 04/06/26 to 04/09/26 (First reset date)

04/09/2031

BBB+

XS2182954797

Download Final Terms Fixed Rate Reset Tier 2 Notes Due 2031

Phoenix Group Holdings plc

£500m

5.625%

28/04/2020

From 28/01/31 to 28/04/31 (Maturity date)

28/04/2031

BBB+

XS2166106448

Download Final Terms 500000000 Tier 2 Notes Due 2031

 

Phoenix Group Holdings plc

$750m

5.625%

29/01/2020

From 29/01/25 to 26/04/25 (First reset date)

Perpetual

BBB+

XS2106524262

Download Terms and conditions fixed rate reset perpetual restricted XS2106524262

 

Phoenix Group Holdings plc

£500m

5.867%

13/06/2019

N/A

13/06/2029

BBB+

XS2012046665

Download Terms And Conditions Per Cent Tier 2 Subordinated Notes Due 2029

 

Phoenix Group Holdings plc

£250m (fixed rate reset notes)

5.766%

13/06/2019

13/06/2024 (First call/reset date)

13/06/2029

BBB+

XS2012047473

Download Terms And Conditions Fixed Rate Reset Callable Tier 2 Subordinated Notes Due 2029

 

Phoenix Group Holdings plc

£250m

4.016%

13/06/2019

N/A

13/06/2026

A-

XS2012048281

Download Terms And Conditions Per Cent Tier 3 Subordinated Notes Due 2026

 

Phoenix Group Holdings plc

€500m

4.375%

24/09/2018

N/A

24/01/2029

BBB+

XS1881005117

Download Pgh Substitution Duke Terms And ConditionsDownload Pgh Substitution Duke Final Terms

 

Phoenix Group Holdings plc

£500m

5.75%

26/04/2018

26/04/2028 (First call/reset date)

Perpetual

BBB+

XS1802140894

Download 500 Million Pound Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible NotesDownload Pgh Rt1 Amended And Restated Trust Deed 01 11 2020

 

Phoenix Group Holdings plc

$500m

5.375%

06/07/2017

N/A

06/07/2027

BBB+

XS1639849204

Download Pgh Substitution Hayabusa Amended Terms And ConditionsDownload Pgh Substitution Hayabusa Amended Final Terms

 

Phoenix Group Holdings plc

£197m

6.625%

23/01/2015

N/A

18/12/2025

BBB+

XS1171593293

Download Pgh Substitution Loft Amended Terms And Conditions

Phoenix Group Holdings Plc

For the latest documentation on our Euro Medium Term Note Programme and Bond Issuance.