(Finance) – General today placed a new Tier 2 bond loan denominated in euros and maturing in January 2035 (the “Securities”), the subscription of which is intended for institutional investors, for a total amount of €750 million.
During the placement phase of the Securities, they were collected orders exceeding €2.4 billionover 3.2 times the offer, received from a highly diversified base of approximately 185 institutional investors.
The issue sparked a strong interest from international investorswhich represented approximately 86% of orders placed, confirming the strong reputation the Group enjoys on the markets. Approximately 27% of the Securities were allocated to investors from the United Kingdom and Ireland, 22% to French investors, 14% to Italian investors, followed by 13% of Northern European investors and 10% of German investors.
The Group CFO of Generali, Cristiano Boreansaid: “The successful placement of our subordinated issue once again testifies to our strong financial position and investor confidence in the strategic plan ‘Lifetime Partner 24: Driving Growth’. The transaction, consistent with our proactive approach to managing the bond maturity profile, will be extended
the average life of our debt further.”