Market Roundup - 19 May 2026
Aviva PLC is actively restructuring its capital, launching tender offers for roughly £700 million in subordinated notes, €750 million in senior notes, and £350 million in restricted Tier 1 notes. Concurrently, the insurer announced the redemption of £200 million of its 6.125% subordinated notes due to a Capital Disqualification Event following the cessation of Solvency II transitional measures. Separately, Pennant International Group PLC secured its first contract for its new conversion services capability, transforming legacy documentation into S1000D data modules for a North American military client. This significant win validates Pennant's investment in its new scalable service offering.