On 9 September 2016, The Paragon Group of Companies PLC issued £150 million Fixed Rate Reset Callable Subordinated Tier 2 Notes due September 2026 with an initial semi-annual coupon of 7.25%. There is a one-time issuer call option 9 September 2021.
The bonds pay a fixed rate of interest of 7.25% per annum, payable twice yearly on 9 March and 9 September of each year from 9 March 2017 up to and including 9 September 2021. The interest rate will then reset to the five year mid-swap rate plus 6.731% if the bonds are not called.
The bonds are listed on the Official List of the UK Listing Authority and have been admitted to trading on the regulated market of the London Stock Exchange.