Members secured

263

Value

£120m

Type

Full buy-in

Impact

  • Uninsured liabilities of the scheme (c90% deferred) were fully insured in less than 3 months
  • Certainty provided using a price lock mechanism until transaction signed
  • Reach plc able to restructure its business

Background

  • Price certainty and a quick transaction were required as part of a wider business restructuring
  • LCP led the transaction on behalf of the scheme

Creating certainty

  • We created certainty by offering a transparent price-lock mechanism

Moving quickly

  • The Trustee sold its equity holdings to partially stabilise the funding shortfall early.
  • We provided an attractive transactable price within four weeks of receiving data
  • The Trustee moved quickly to sell its remaining return-seeking assets and restructured its LDI portfolio to align with Rothesay’s price-lock
  • Contractual documentation was agreed and signed swiftly