Just noticed that these fall due in April. Pity. Seems that the issue is for only £25m which PF should be able to handle easily. Hopefully, though, there will be a replacement.


  • Hello Dandigirl, as you say the issue size was small so maybe in general terms no need for top up at this moment but given their legal bill to battle NSF ( £23m from memory ) just maybe similar to IPF extension. ?
  • sussexmade: hello, interesting point you make re: the NSF costs. Would have thought that they could a new issue away, provided they aren't too greedy, fairly easily. According to the LSE site the 5.125% 2023s are trading around par or a little above. Depending on amount and term, maybe PFG could get a new issue away with something beginning with a 6, maybe even below that if the amount sought is not that big.
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