Ashurst advised Shawbrook Bank, the specialist UK savings and lending bank, on the issue of £125 million Fixed Rate Reset Perpetual Additional Tier 1 Write Down Capital Securities.

The transaction represented the first issue of additional tier 1 capital by Shawbrook. The net proceeds of the issue will be used to optimise Shawbrook’s capital resources to support its general corporate purposes, including the growth of the Group’s business.

The Ashurst team was led by finance partner (DCM) Alex Biles, assisted by counsel Chris Hardingham.