Slaughter and May advised Aviva plc on its issue of £400 million Dated Tier 2 Fixed to Floating Rate Notes under its £7 billion Euro Note Programme

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.

The Notes are intended to qualify as Tier 2 Capital under Solvency II. The Notes have been assigned a rating of Baa1 by Moody’s and BBB by Standard & Poor’s.

Barclays Bank plc, Citigroup Global Markets Limited, HSBC Bank plc, Lloyds Bank plc and RBC Europe Limited acted as managers in respect of the offering.