Debt investors
Find key information about L&G for debt investors, including our public credit ratings and details of outstanding bond issues.
Debt investor relations
If you need more information, please contact the Group Treasury team:
Debt issuance programmes
We have a £7 billion Medium Term Note programme and a $2 billion European Commercial Paper programme.
Medium Term Note programme (dated 1 April 2026)
Trust Deed (dated 1 April 2026)
European Commercial Paper Information Memorandum (updated September 2015)
Outstanding debt profile
This graph shows L&G outstanding debt instruments greater than £100m, arranged by the earliest of the first call or maturity date. It shows non-GBP debt 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 | A3/BBB+/BBB+ | 449 USD | 5.250 | Mar 2027 | Mar 2047 | XS1580239207 | |
Nov 2018 | A3/BBB+/BBB+ | 400 GBP | 5.125 | Nov 2028 | Nov 2048 | XS1907317660 | |
Nov 2019 | A3/BBB+/BBB+ | 600 GBP | 3.750 | Nov 2029 | Nov 2049 | XS2083961370 | |
May 2020 | A3/BBB+/BBB+ | 500 GBP | 4.500 | Nov 2030 | Nov 2050 | XS2166022934 | |
Jun 2020 | Legal & General Group Plc | Baa2/BBB/BBB+ | 500 GBP | 5.625 | Mar 2031 | Perpetual | XS2190956941 |
Nov 2000 | Legal & General Finance Plc Information memorandum (PDF 5.5MB) Pricing supplement dated 31 Aug 2001 (PDF 240KB)
| A2/A/A | 273 GBP | 5.875 | - | Dec 2031 | XS0121464779 |
Apr 2017 | A3/-/BBB+ | 500 USD | 5.550 | Apr 2032 | Apr 2052 | XS1600847666 | |
Apr 2002 | Legal & General Finance Plc | A2/A/A | 123 GBP | 5.875 | - | Apr 2033 | XS0145680426 |
Apr 2025 | A3/-/BBB+ | 600 GBP | 6.625 | Oct 2034 | Apr 2055 | XS3030523644 | |
Sep 2025 | Legal & General Group Plc | A3/-/BBB+ | 700 EUR | 4.375 | Mar 2035 | Sep 2055 | XS3170223104 |
Jul 2026 | Legal & General Group Plc | Baa2/-/BBB+ | 500 GBP | 7.125 | Jan 2033 | Perpetual | XS3404445663 |
Outstanding bond issues (v2)
Issue date | Issuer | Prospectus / Terms | Rating (Moody's/S&P/Fitch) | Amount (million) | Outstanding Amount | Coupon (%) | First call date | Maturity date | ISIN |
|---|---|---|---|---|---|---|---|---|---|
Mar 2017 | Legal & General Group Plc | Final terms dated 17 Mar 2017 (PDF 341KB) | A3/BBB+/BBB+ | 449 USD | 5.250 | Mar 2027 | Mar 2047 | XS1580239207 | |
Nov 2018 | Legal & General Group Plc | Final terms dated 12 Nov 2018 (PDF 71KB) | A3/BBB+/BBB+ | 400 GBP | 5.125 | Nov 2028 | Nov 2048 | XS1907317660 | |
Nov 2019 | Legal & General Group Plc | Final terms dated 22 Nov 2019 (PDF 288KB) | A3/BBB+/BBB+ | 600 GBP | 3.750 | Nov 2029 | Nov 2049 | XS2083961370 | |
May 2020 | Legal & General Group Plc | Final terms dated 29 Apr 2020 (PDF 63KB) | A3/BBB+/BBB+ | 500 GBP | 4.500 | Nov 2030 | Nov 2050 | XS2166022934 | |
Jun 2020 | Legal & General Group Plc | RT1 offering memorandum dated 22 June 2020 (PDF 423KB) | Baa2/BBB/BBB+ | 500 GBP | 5.625 | Mar 2031 | Perpetual | XS2190956941 | |
Nov 2000 | Legal & General Finance Plc | Pricing supplement dated 31 Aug 2001 (PDF 240KB) | A2/A/A | 273 GBP | 5.875 | - | Dec 2031 | XS0121464779 | |
Apr 2017 | Legal & General Group Plc | Final terms dated 20 Apr 2017 (PDF 340KB) | A3/-/BBB+ | 500 USD | 5.550 | Apr 2032 | Apr 2052 | XS1600847666 | |
Apr 2002 | Legal & General Finance Plc | Pricing supplement dated 4 Apr 2002 (PDF 186KB) | A2/A/A | 123 GBP | 5.875 | - | Apr 2033 | XS0145680426 | |
Apr 2025 | Legal & General Group Plc | Final terms dated 28 Mar 2025 (PDF 174KB) | A3/-/BBB+ | 600 GBP | 6.625 | Oct 2034 | Apr 2055 | XS3030523644 | |
Sep 2025 | Legal & General Group Plc | Final terms dated 2 Sep 2025 (PDF 238KB) | A3/-/BBB+ | 700 EUR | 4.375 | Mar 2035 | Sep 2055 | XS3170223104 | |
Jul 2026 | Legal & General Group Plc | RT1 offering memorandum dated 3 July 2026 (PDF 1.4MB) | Baa2/-/BBB+ | 500 GBP | 7.125 | Jan 2033 | Perpetual | XS3404445663 |
Credit rating
Entity | AM Best | Fitch | Moody's | S&P | |
|---|---|---|---|---|---|
Legal & General Group Plc | Outlook LT Issuer Credit Rating ST Issuer Credit Subordinated Debt Junior Subordinated Debt Preference stock non-cumulative Subordinated debt (perpetual restricted tier 1) Junior subordinated debt (perpetual restricted tier 1) | Stable a | Stable A+
BBB+
BBB+ | Stable A2
A3
Baa2 | Stable A A-1
BBB+
BBB |
Legal and General Assurance Society Limited | Outlook LT Issuer Credit Rating Financial Strength LT Issuer Credit Rating (Foreign Currency) Financial Strength (Foreign Currency) | Stable aa- A+
| Stable
AA-
| Stable
Aa3
| Stable AA- AA- AA-
AA- |
Legal & General Finance PLC | Outlook LT Issuer Credit Rating Senior Unsecured Debt Short Term |
A | Stable A2 A2 P-1 |
A A-1 | |
Legal & General Reinsurance Company Limited | Outlook Financial Strength |
| Stable AA- |
|
|
Legal & General Reinsurance Company No.2 Limited | Outlook LT Issuer Credit Financial Strength | Stable aa- A+ |