Debevoise & Plimpton LLP has advised Rothesay Life PLC (“Rothesay”) in three longevity swap transactions worth £4.8 billion with Lloyds Banking Group Pension Trustees.

The deals cover £3.1 billion of liabilities in the Lloyds Bank Pension Scheme No. 1, £700 million in the Lloyds Bank Pension Scheme No. 2, and £1 billion in the HBOS Final Salary Pension Scheme.

The Debevoise team advising Rothesay was led by counsel Rosamund Wood, and included partner Hugo Laing, and associate Laura Jackson.