Allianz says €587.5 million subordinated notes tendered in offer

Chicago, June 6 – Allianz SE announced the results of its tender offer to buy any and all of the €1.5 billion undated subordinated fixed-to-floating rate notes with a current coupon of 4.75% and first call date of Oct. 24, 2023 (ISIN: DE000A1YCQ29).

In an announcement, the company said it is accepting €587.5 million of the notes for purchase, leaving €912.5 million of the notes outstanding post-settlement.

The company is paying a par purchase price, plus accrued interest.

Tenders were due by 11 a.m. ET on June 5.

Settlement is planned for June 9.

The tender offer was subject to a financing condition which has been met.

The dealer managers for the tender offer are BNP Paribas (+33 1 55 77 78 94; liability.management@bnpparibas.com), BofA Securities Europe SA (+33 1 877 01057; DG.LM-EMEA@bofa.com), Citigroup Global Markets Europe AG (+44 20 7986 8969; liabilitymanagement.europe@citi.com), Deutsche Bank AG (+44 207 545 8011) and HSBC Continental Europe (+44 207 992 6237; LM_EMEA@hsbc.com).

Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: Arlind Bytyqi; allianz@is.kroll.com; https://deals.is.kroll.com/allianz) is the tender agent.

Allianz is a Munich-based insurance and financial services company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.