This relates to a 10-year GBP bond issued in 2020 by Triodos Bank UK Ltd. The bond was issued at nominal value. The nominal interest rate is 4% for the first five years after which there is an option to early redeem the bond. If the bond is not early redeemed, the interest rate is reset to maturity at 3.9% above the Bank of England base rate. The bonds are subordinated to all other liabilities.
The movement of the debt issued is as follows: