Hannover Re places €500m bond

Hannover Re has raised €500 million in the capital markets through a subordinated bond.

The issue, which was placed predominantly with institutional investors in Europe, has a perpetual maturity with a first scheduled call option for Hannover Re after approximately ten years.

Hannover Re now has four hybrid bonds outstanding on the capital market.

Ulrich Wallin, chief executive officer of Hannover Re, said: "The new bond enables Hannover Re to take advantage of the low level of interest rates and to optimise the maturity profile of the outstanding hybrid capital.”