Talanx places hybrid bond with volume of €750m
Hannover-based insurance Group Talanx on November 28 successfully placed a hybrid bond with a volume of €750 million, issued primarily to international and domestic institutional investors.
The book was substantially oversubscribed, and the euro-denominated bond carries a fixed coupon of 2.25 percent, with the first call date on December 5, 2027.
The bond issue is aimed at supporting Talanx in capturing growth opportunities in the hardening market environment - and should allow for sustainably low funding costs.
Rated "BBB" by the rating agency Standard & Poor's, the bond will be listed on the Luxembourg Stock Exchange. The transaction was arranged by Commerzbank, JP Morgan, Natixis and NatWest Markets.
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