Phoenix restructures debt to bolster growth strategy

Jenna Towler
clock

Closed life consolidator Phoenix has comprehensively refinanced its debt to strengthen its balance sheet and better support its growth plans.

It said the package would reduce the group's debt and gearing and assist it in its aim to achieve an investment grade rating in the future. Group chief executive Clive Bannister (pictured) said: "Following our successful return to the bond market earlier this month, this new bank facility is the next step in Phoenix Group's development. The new facility allows us to simplify the group's structure and offers us greater flexibility as we execute our growth strategy. "Furthermore, under the terms of the new agreement, we have the ability to further reduce the margin on the new facility a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

HMRC updates on information sharing for IHT on pensions

HMRC updates on information sharing for IHT on pensions

Second technical note

Alex Levy
clock 01 September 2026 • 2 min read
Pension first or last? What the numbers really tell us

Pension first or last? What the numbers really tell us

'Focusing solely on reducing the pension before death can increase lifetime tax'

Joshua Croft
clock 28 August 2026 • 4 min read
IHT on pensions: New thinking on taking income in retirement?

IHT on pensions: New thinking on taking income in retirement?

‘This has undoubtedly had a huge impact on planning for many clients’

Lisa Webster
clock 26 August 2026 • 3 min read