LSEG Finance PLC, the financing subsidiary of London Stock Exchange Group plc, has disclosed that Group Chief Financial Officer Michel-Alain Proch acquired notes in a primary bond issuance on 11 November 2026. The transaction, reported under UK Market Abuse Regulation requirements, relates to the company's GBP 500 million 5.500% Guaranteed Notes due 18 November 2029. The acquisition was made through participation in the primary allocation of the bond issuance, making it a notable insider dealing disclosure for investors monitoring LSEG's capital markets activity.

Key Points

  • LSEG Finance PLC (LSEG) — financing subsidiary of London Stock Exchange Group plc
  • Group CFO Michel-Alain Proch acquired notes via primary allocation in LSEG Finance's bond issuance on 11 November 2026
  • Notes carry a 5.500% coupon, are priced at £997.87 per note, with a volume of 250 notes acquired; the bond matures 18 November 2029
  • Investors may be watching whether further PDMR participation in LSEG Finance debt issuances is disclosed in subsequent notifications

Michel-Alain Proch's Acquisition of LSEG Finance 5.500% Notes at £997.87 Per Note

The announcement states that Michel-Alain Proch, in his capacity as Group Chief Financial Officer of London Stock Exchange Group plc, acquired 250 of the GBP 500 million 5.500% Guaranteed Notes issued by LSEG Finance plc. Each note was acquired at a price of £997.87, reflecting a slight discount to par value. The transaction was conducted outside a trading venue, consistent with participation in a primary market bond allocation rather than a secondary market purchase. The notes carry ISIN XS2565256040 and are guaranteed by London Stock Exchange Group plc.

Structure of LSEG Finance's GBP 500 Million Guaranteed Notes Due November 2029

The notes at the centre of this disclosure form part of a GBP 500 million issuance by LSEG Finance plc, the dedicated financing entity within the broader London Stock Exchange Group structure. The notes carry a fixed coupon of 5.500% and are due for repayment on 18 November 2029, giving them a tenor running to late 2029. Crucially, the notes benefit from a guarantee provided by London Stock Exchange Group plc itself, a feature that typically provides bondholders with recourse to the parent entity's credit standing. The company did not disclose the full use of proceeds in this announcement.

UK Market Abuse Regulation Triggers Mandatory PDMR Disclosure for CFO Transaction

The notification was made pursuant to the requirements of the UK Market Abuse Regulation, which obliges persons discharging managerial responsibilities and their closely associated persons to notify both the company and regulators of transactions in relevant financial instruments. This disclosure is an initial notification rather than an amendment, the announcement confirms. The transaction involves a debt instrument rather than equity, though PDMR dealings in bond issuances by group financing subsidiaries remain subject to the same transparency obligations, ensuring investors retain visibility of executive participation in capital markets transactions across all instrument types.