Aviva prepares tier two bonds for Sonia switch

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Aviva prepares tier two bonds for Sonia switch

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GXFMA4 A logo sign outside of a facility occupied by Aviva in Milan, Italy on September 3, 2016. | Alamy Stock Photo

Aviva has asked investors to agree to a change in the terms of three of its tier two bonds, to try and make sure they revert to spreads over Sonia rather than Libor if they live on past their first call dates.

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