Germany's Allianz Places CHF500 Million In Subordinated Debt In Switzerland
24 January 2014 - 2:19AM
Dow Jones News
Allianz SE (ALV.XE) Thursday said it has placed CHF500 million
($678 million) in subordinated debt with investors in
Switzerland.
MAIN FACTS:
-The bond is undated; ordinary call rights start in July
2019.
-The annual coupon of 3.25% is fixed until July 2019.
-Thereafter the coupon will be reset every five years based on
the then-prevailing 5-year-swap rate plus a margin of 2.573%
annually.
-Coupon payments will be subject to certain conditions and can
be deferred.
-Listing on the SIX Swiss Exchange in Zurich is intended.
-Settlement is expected for Feb. 4, 2014.
-Write to the Frankfurt Bureau at
djnews.frankfurt@dowjones.com
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