Beazley to buy back debt

Specialist insurer Beazley is to buy back some of its fixed/floating rate notes due 2026 by means of a modified Dutch auction.

Specialist insurer Beazley is to buy back some of its fixed/floating rate notes due 2026 by means of a modified Dutch auction.

Holders of the notes are invited to name their price for the notes they hold. There are £150m worth of notes in issue, and Beazley intends to buy back up to £25m of them.

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