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.
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