Debt investors

Key information about the Group for debt investors including a summary of our public credit ratings and documentation for outstanding bond issues.

Debt investor relations

If you require any further information, please contact the Group Treasury team:

Christopher Wright

Group Treasurer

Email Christopher Wright

Monika Remenyi

Head of Funding and DCM

Email Monika Remenyi

Debt issuance programmes

We have a £5 billion Medium Term programme and a $2 billion Euro Commercial Paper programme.

Medium Term Note programme (dated 21 March 2025)

Trust Deed (dated 21 March 2025)

European Commercial Paper Information Memorandum (updated September 2015)

Supplementary prospectus dated 12 August 2025

L&G outstanding debt instruments greater than £100m, arranged by the earliest of the first call or maturity date. Non GBP debt is shown as the equivalent GBP amount at the point of issuance.

Outstanding bond issues

Issue date	Issuer	Rating (Moody's/S&P/Fitch)	Amount (million)	Coupon (%)	First call date	Maturity date	ISIN
Mar 2017	Legal & General Group Plc	A3/BBB+/BBB+	850 USD	5.250	Mar 2027	Mar 2047	XS1580239207
	Supplementary prospectus dated 31 Aug 2016 (PDF 96KB) Supplementary prospectus dated 8 Mar 2017 (PDF 97KB) Prospectus (PDF 854KB) Final terms dated 17 Mar 2017 (PDF 341KB)
Nov 2018	Legal & General Group Plc	A3/BBB+/BBB+	400 GBP	5.125	Nov 2028	Nov 2048	XS1907317660
	Supplementary prospectus dated 6 Sep 2018 (PDF 142KB) Prospectus (PDF 1.19MB) Final terms dated 12 Nov 2018 (PDF 71KB)
Nov 2019	Legal & General Group Plc	A3/BBB+/BBB+	600 GBP	3.750	Nov 2029	Nov 2049	XS2083961370
	Supplementary prospectus dated 8 Nov 2019 (PDF 145KB) Prospectus dated 20 Mar 2019 (PDF 1.35MB) Final terms dated 22 Nov 2019 (PDF 288KB)
May 2020	Legal & General Group Plc	A3/BBB+/BBB+	500 GBP	4.500	Nov 2030	Nov 2050	XS2166022934
	Final terms dated 29 Apr 2020 (PDF 63KB) Prospectus dated 19 Mar 2020 (PDF 1.39MB) Supplementary prospectus dated 22 Apr 2020 (PDF 167KB)
Jun 2020	Legal & General Group Plc	Baa2/BBB/BBB+	500 GBP	5.625	Mar 2031	Perpetual	XS2190956941
	RT1 offering memorandum (PDF 423KB)
Nov 2000	Legal & General Finance Plc	A2/A/A	350 GBP	5.875	-	Dec 2031	XS0121464779
	Information memorandum (PDF 5.5MB) Pricing supplement dated 31 Aug 2001 (PDF 240KB)
Apr 2017	Legal & General Group Plc	A3/-/BBB+	500 USD	5.550	Apr 2032	Apr 2052	XS1600847666
	Final terms dated 20 Apr 2017 (PDF 340KB) Supplementary prospectus dated 31 Aug 2016 (PDF 96KB) Supplementary prospectus dated 8 Mar 2017 (PDF 97KB) Final prospectus (PDF 854KB)
Apr 2002	Legal & General Finance Plc	A2/A/A	200 GBP	5.875	-	Apr 2033	XS0145680426
	Medium-term note information memorandum (PDF 271KB) Pricing supplement dated 4 Apr 2002 (PDF 186KB)
Apr 2025	Legal & General Group Plc	A3/-/BBB+	600 GBP	6.625	Oct 2034	Apr 2055	XS3030523644
	Prospectus (PDF 2344KB) Final terms dated 28 Mar 2025 (PDF 174KB)
Sep 2025	Legal & General Group Plc	A3/-/BBB+	700 EUR	4.375	Mar 2035	Sep 2055	XS3170223104
	Prospectus (PDF 2.28MB) Supplementary prospectus (PDF 123KB) Final terms dated 2 Sep 2025 (PDF 238KB)
Jun 2014	Legal & General Group Plc	A3/BBB+/BBB+	13 GBP	5.500	Jun 2044	Jun 2064	XS1079028566
	Prospectus dated 24 Jun 2014 (PDF 812KB) Final prospectus (PDF 473KB)

Credit rating

Entity		AM Best	Fitch	Moody's	S&P
Legal & General Group Plc	Outlook	Stable	Stable	Stable	Stable
	LT Issuer Credit Rating	a	A+	A2	A
	ST Issuer Credit				A-1
	Senior Unsecured Debt		A	A2	A
	Subordinated Debt		BBB+	A3
	Junior Subordinated Debt				BBB+
	Preference stock non-cumulative			Baa2
	Subordinated debt (perpetual restricted tier 1)		BBB+
	Junior subordinated debt (perpetual restricted tier 1)				BBB
Legal and General Assurance Society Limited	Outlook	Stable	Stable	Stable	Stable
	LT Issuer Credit Rating	aa-			AA-
	Financial Strength	A+	AA-	Aa3	AA-
	LT Issuer Credit Rating (Foreign Currency)				AA-
	Financial Strength (Foreign Currency)				AA-
Legal & General Finance PLC	Outlook			Stable
	LT Issuer Credit Rating			A2
	Senior Unsecured Debt			A2	A
	Short Term			P-1	A-1
Banner Life Insurance Company	Outlook	Under review with developing implications	Rating Watch Negative		CreditWatch Negative
	LT Issuer Credit	aa-			A+
	Financial Strength	A+	AA-		A+
William Penn Life Insurance Company of New York	Outlook	Under review with developing implications	Rating Watch Negative		CreditWatch Negative
	LT Issuer Credit	aa-			A+
	Financial Strength	A+	AA-		A+
Legal & General Reinsurance Company Limited	Outlook		Stable
	Financial Strength		AA-
Legal & General Reinsurance Company No.2 Limited	Outlook	Stable
	LT Issuer Credit	aa-
	Financial Strength	A+