Generali yesterday successfully placed a subordinated bond of 1,25 billion. The issue was aimed at institutional investors and the question it was 4 times higher than the amount issued, reaching nearly 5 billion euro. There deadline of bonds is as at 27 October 2047, with coupon of 5,5%.
About 400 institutional investors came forward for the insurance company's securities. There was strong interest from foreign banks, where 89% of the bonds were placed.
The issue - specifies the note from Generali - is aimed at refinancing of subordinated debt group with first date call in 2016.
