The Generali Group successfully closed a fixed rate Euro-denominated senior note issue, reserved to institutional investors, launched this morning.
Due to strong demand, the order book grew to over € 6 billion, more than 3 times the total issue size set at € 1,750 million. The transaction is aimed at refinancing the entire Group debt maturing on 20 July 2010.
The terms of the issue are as follows:
- Issuer: Assicurazioni Generali S.p.A.
- Issue Expected Rating: A1/A+/A+
- Issue size: € 1,750 million
- Date of launch: 9 September 2009
- Date of payment: 16 September 2009
- Due date: 16 September 2024
- Coupon: 5,125%
- First Coupon Date: 16 September 2010
- Issue price: 98.552
The issue is part of the Euro Medium Term Notes (EMTN) program, which was approved by the Board of Directors of Assicurazioni Generali and has a maximum ceiling of € 4 billion. The issue has been launched with the support of Mediobanca, Calyon and Morgan Stanley as Joint Lead Managers and Bookrunners. The issue will be listed on the Luxemburg Stock Exchange.
