Generali closes a € 750 million senior dated subordinated bond issue

Trieste. Generali announced that a senior dated subordinated bond issue of a total amount of € 750 million, reserved to institutional investors, was successfully completed today. The transaction, which registered demand that was more than twice the offer, is aimed at calling in full, at the first call date on July 20, 2012, the existing subordinated bond maturing in 2022.

Chairman Gabriele Galateri di Genola commented: “This successful operation in the current environment of financial markets volatility testifies for the renowned solidity and reliability of Generali”.

The terms of the issue are as follows:

Issuer: Assicurazioni Generali S.p.A.
Issue Expected Rating: BBB+ (S&P)/A3 (Moody’s)/BBB- (Fitch)
Issue size: € 750 million
Date of launch: 3 July 2012
Settlement date: 10 July 2012
Due date: 10 July 2042
First call date: 10 July 2022
Coupon: 10.125%
First Coupon Date: 10 July 2013
Issue price: 100

Barclays, Citigroup, HSBC, JP Morgan, Mediobanca (Global Coordinator), Morgan Stanley and UniCredit acted as Joint Lead Managers for the transaction. The issue will be listed on the Luxembourg Stock Exchange.