Close Brothers retires bulk of £200m Tier 2 notes via cash tender

An announcement from Close Brothers Group ( (GB:CBG) ) is now available.

Close Brothers Group has completed a cash tender offer for its £200 million 2.00% Subordinated Tier 2 Notes, originally announced on 26 January 2026. By the 2 February deadline, noteholders had tendered £191.38 million in aggregate nominal value, all of which the company has elected to purchase, subject to the satisfaction or waiver of a new issue condition, with settlement expected on 4 February 2026. Following completion, only £8.62 million of the notes will remain outstanding, effectively retiring the vast majority of this Tier 2 instrument and signalling an active approach to balance sheet and capital structure management that may have implications for the group’s regulatory capital mix and future funding profile.

The most recent analyst rating on (GB:CBG) stock is a Buy with a £625.00 price target. To see the full list of analyst forecasts on Close Brothers Group stock, see the GB:CBG Stock Forecast page.

Spark’s Take on GB:CBG Stock

According to Spark, TipRanks’ AI Analyst, GB:CBG is a Neutral.

The score is held back primarily by weakening profitability (revenue decline and a net loss) and rising leverage, despite a notable rebound in operating/free cash flow. Technicals are supportive with a strong uptrend but appear overbought, and valuation is constrained by a negative P/E and no dividend yield data.

To see Spark’s full report on GB:CBG stock, click here.

More about Close Brothers Group

Close Brothers Group is a UK-based merchant banking group that provides specialist lending, deposit taking, wealth management and securities trading services, with a focus on small and medium-sized businesses and individual clients in the UK market.

Average Trading Volume: 375,595

Technical Sentiment Signal: Hold

Current Market Cap: £753.6M

Learn more about CBG stock on TipRanks’ Stock Analysis page.