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

Editor's view: How disjointed is the government's salary sacrifice change?

Editor's view: How disjointed is the government's salary sacrifice change?

The editor's Friday Night Takeaway from 19 December

Jen Frost
clock 19 December 2025 • 3 min read
Pension reflections: Retirement's biggest moments of 2025

Pension reflections: Retirement's biggest moments of 2025

What can we expect to see for pensions next year?

Jenna Brown
clock 18 December 2025 • 15 min read
Women, wealth, and worry: How to close the retirement gender gap

Women, wealth, and worry: How to close the retirement gender gap

Julia Peake explores the retirement gender gap and suggests how it can be closed...

Julia Peake
clock 16 December 2025 • 4 min read