brand asset

Perpetual Subordinated Bonds (PSBs)

As a result of the transfer by Kent Reliance Building Society (KRBS) of its business, assets and liabilities to OneSavings Bank plc (OSB), OSB assumed a liability for £15m 7.875% Permanent Interest Bearing Shares (PIBS) and £22m 6.591% PIBS issued by KRBS. On 1 February 2011, in place of the PIBS, OSB issued £15m 7.875% Perpetual Subordinated Bonds (PSBs) and 22m 6.591% PSBs. 

The £22m 6.591% PSBs were fully redeemed and cancelled on 7 September 2021.

The £15m 7.875% PSBs have a current annual coupon rate of 4.6007% with interest payable on 27 February and 27 August and the next coupon reset date of 27 August 2024. The PSBs are listed on London Stock Exchange (ISIN GB00B67JQX63).

Documents for year…

2011
  • 2011
  • 2010

25 Feb 2011

Prospectus

25 Feb 2011

Prospectus

13 Oct 2010

PIBS booklet