Phoenix Group Holdings PLC - London-based long-term savings and retirement products - Completes first phase of £500 million deleveraging programme by redeeming £250 million in tier 2 debt notes due 2029 to reduce debt by that amount. Phoenix also re-finances $500 million in restricted tier 1 notes callable in early 2025 through a tender and issues $500 million in RT1 notes at a coupon of 8.5%.

Current stock price: 488.29 pence

12-month change: down 10%

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