M&G Plc (GB:MNG) has released an update.
M&G Plc is set to strengthen its financial position by undertaking deleveraging measures amounting to up to £450m, with plans to redeem £300m in Tier 2 notes and launch tender offers for four other notes, aiming to reduce its Solvency II leverage ratio to below 30% by 2025. The firm’s Solvency II coverage ratio is robust at 203%, and these steps are anticipated to enhance balance sheet efficiency while maintaining a coverage ratio well above their target range. CEO Andrea Rossi emphasizes the company’s focus on financial strength, simplification, and growth, expressing confidence in M&G’s continued success for customers and shareholders.
For further insights into GB:MNG stock, check out TipRanks’ Stock Analysis page.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
