Generali attracts ‘strong’ investor interest for €500m third green bond

Italian insurer  Generali has placed its third green bond, a €500 million tier 2 deal, under its new sustainability bond framework.

The bond is due July 2032.  Generali said the net proceeds from the notes will be used to finance and refinance “eligible green projects”.

The notes attracted an order book of €1.05 billion from 116 diversified international institutional investors throughout the book-building process, including a significant representation of funds with Sustainable/SRI mandates.

Generali stated that the issuance attracted strong interest from international investors, which accounted for approximately 94% of allocated orders. About 33% of the bond has been allocated to French investors, 26% to UK and Irish investors, 17% to German and Austrian investors and approximately 12% to Italian and Spanish investors.

BofA Securities, Crédit Agricole CIB, Citi, Deutsche Bank, Goldman Sachs International, Mediobanca, and Morgan Stanley acted as joint lead managers and bookrunners for the transaction.

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