Slaughter and May advised Standard Life Aberdeen plc on the issuance of $750 million 4.25% Fixed Rate Reset Subordinated Notes due 2048. The Notes are intended to qualify as Tier 2 capital under Solvency II and have been assigned a rating of Baa1(hyb) by Moody's and BBB+ by Standard & Poor's. The Notes have been admitted to listing on the Official List of the UK Listing Authority and to trading on the regulated market of the London Stock Exchange.

BNP Paribas, BofA Merrill Lynch, Citigroup, HSBC and Société Générale acted as joint lead managers in connection with the issuance.
Contacts

Financing: Stephen Powell (partner), Andrew Chaplin (associate), James Costi (associate); Financial regulation: Nick Bonsall (partner), David Shone (associate); Tax: William Watson (partner), Jamshed Bilimoria (associate)