Group Bonds
Notice
The sole aim of this overview is to provide a simplified and non-binding summary. The respective offering prospectus alone is legally binding.
Status: 30.09.2021
Subordinated liabilities
| Issuer | Type | Volume nominal | Coupon rate p. a. | Emission/ Issue | Maturity |
|---|---|---|---|---|---|
| Münchener Rückversicherungs- Gesellschaft AG, Munich | Subordinated green bond | €1,000m | Until 2032 1.00 %, thereafter variable | 2021 | 2042 |
Details
The €1,000m green bond ends on 26 May 2042. Münchener Rückversicherungs-Gesellschaft AG, as the issuer, has a first right to call in 2031. The bonds have a coupon of 1.00% p.a. until 26 May 2032. If they are not redeemed until the first reset date, the coupon as from 26 May 2032 will be 210 basis points above 3-month EURIBOR.
Details of the bonds
| Issuer | Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München |
|---|---|
| Volume | €1,000m |
| Use of proceeds | An amount equivalent to the net proceeds of the bonds will be used to finance or refinance, in whole or in part, existing and/or future eligible projects that meet the eligibility criteria defined in the green bond framework of Munich Re and are financed by Munich Re either by equity participation or by debt instruments. |
| Optional deferral | Under premises as defined in the conditions of issue the issuer has the option to defer the coupon. |
| Compulsory Deferral | Coupons will be mandatorily deferred where the issuer breaches minimum solvency requirements (referred to as the "Solvency Event") |
| Settlement of deferred coupons | Cash Cumulative |
| Term | 26 May 2042 |
| Date of issue | 02 September 2021 |
| Coupon date | 26 May, starting in 2022 |
| First reset date | 26 May 2032 |
| Coupon p.a. up to first reset date | 1.00% |
| Coupon p.a. after first reset date | 3-month EURIBOR + 210bp (including 100bps step-up) |
| Issuer Redemption Option | At par (in whole only), on any date during the period from and including 26 November 2031 to and including the first reset date and on any floating interest payment date thereafter (subject to the Conditions to Redemption and Repurchase). |
| Early Redemption Rights | Prior to 26 November 2031 at par (in whole only), upon Gross-up, Tax, Regulatory, Accounting or Rating Event or the issuer or its subsidiaries have repurchased or redeemed bonds equal to or in excess of 80 per cent of the aggregate principal amount of the bonds initially issued. |
| Subordination | The notes are subordinated to senior creditors |
| German securities identification number | A3E5WY |
| ISIN | XS2381261424 |
| Bloomberg | MUNRE |
| Stock exchange listing | Luxembourg |
The sole aim of this overview is to provide a simplified and non-binding summary. The offering prospectus alone is legally binding.
Bond terms
For further details, please see the bond T&C:
T&C (PDF, 356 KB)
Green Bond Allocation and Impact Report 2021
For further details, please see the report:
GB Report (PDF, 3.6 MB)
| Issuer | Type | Volume nominal | Coupon rate p. a. | Emission/ Issue | Maturity |
|---|---|---|---|---|---|
| Münchener Rückversicherungs- Gesellschaft AG, Munich | Subordinated green bond | €1,250m | Until 2031 1.25 %, thereafter variable | 2020 | 2041 |
Details
The €1,250m green bond ends on 26 May 2041. Münchener Rückversicherungs-Gesellschaft AG, as the issuer, has a first right to call in 2030. The bonds have a coupon of 1.25% p.a. until 26 May 2031. If they are not redeemed until the first reset date, the coupon as from 26 May 2031 will be 255 basis points above 3-month EURIBOR.
Details of the bonds
| Issuer | Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München |
|---|---|
| Volume | €1,250m |
| Denomination | €100,000 |
| Issue price | 98.847% |
| Redemption price | 100.00% |
| Coupon p.a. up to first reset date | 1.25% |
| Coupon p.a. after first reset date | 3-month EURIBOR + 255bp |
| Use of proceeds | An amount equivalent to the net proceeds of the bonds will be used to finance or refinance, in whole or in part, existing and/or future eligible projects that meet the eligibility criteria defined in the green bond framework of Munich Re and are financed by Munich Re either by equity participation or by debt instruments. |
| Optional deferral | Under premises as defined in the conditions of issue the issuer has the option to defer the coupon. |
| Compulsory Deferral | Coupons will be mandatorily deferred where the issuer breaches minimum solvency requirements (referred to as the "Solvency Event") |
| Settlement of deferred coupons | Cash Cumulative |
| Term | 26 May 2041 |
| Date of issue | 23 September 2020 |
| Coupon date | 26 May, starting in 2021 |
| First reset date | 26 May 2031 |
| Issuer Redemption Option | At par (in whole only), on any date during the period from and including 26 November 2030 to and including the first reset date and on any floating interest payment date thereafter (subject to the Conditions to Redemption and Repurchase). |
| Early Redemption Rights | Prior to 26 November 2030 at par (in whole only), upon Gross-up, Tax, Regulatory, Accounting or Rating Event or the issuer or its subsidiaries have repurchased or redeemed bonds equal to or in excess of 80 per cent of the aggregate principal amount of the bonds initially issued. |
| Subordination | The notes are subordinated to senior creditors |
| German securities identification number | A289EQ |
| ISIN | XS 222 184 568 3 |
| Bloomberg | MUNRE |
| Stock exchange listing | Luxembourg |
The sole aim of this overview is to provide a simplified and non-binding summary. The offering prospectus alone is legally binding.
Bond terms
For further details, please see the bond T&C:
T&C (PDF, 452 KB)
Green Bond Allocation and Impact Report 2021
For further details, please see the report:
GB Report (PDF, 3.6 MB)
| Issuer | Type | Volume nominal | Coupon rate p. a. | Emission/ Issue | Maturity |
|---|---|---|---|---|---|
| Münchener Rückversicherungs- Gesellschaft AG, Munich | Subordinated bond | €1,250m | Until 2029 3.25%, thereafter variable | 2018 | 2049 |
Details
The €1,250m bond ends on 26 May 2049. Münchener Rückversicherungs-Gesellschaft AG, as the issuer, has the right to call them for early redemption in 2029. The bonds have a coupon of 3.25% p.a. until 26 May 2029. If they are not redeemed early, the coupon as from 26 May 2029 will be 340 basis points above 3-month EURIBOR.
Details of the bonds
| Issuer | Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München |
|---|---|
| Volume | €1,250m |
| Denomination | €100,000 |
| Issue price | 98.94% |
| Redemption price | 100.00% |
| Coupon p.a. up to first call date | 3.25% |
| Coupon p.a. after first call date | 3-month EURIBOR + 240bp + 100 bp step up |
| Option deferral | Under premises as defined in the conditions of issue the issuer has the option to defer the coupon. |
| Mandatory Deferral | Coupons will be mandatorily deferred where the issuer breaches minimum solvency requirements (referred to as the "Solvency Event") |
| Settlement of deferred coupons | Cash Cumulative |
| Term | 26 May 2049 |
| Date of issue | 22 November 2018 |
| Coupon date | 26 May, starting in 2019 |
| First call date | 26 May 2029 |
| Early call provisions | Customary call events prior to first call date: Gross up, Tax, Accounting, Rating and Regulatory Event. |
| Subordination | The notes are subordinated to senior creditors |
| German securities identification number | A2TSS7 |
| ISIN | XS 184 344 831 4 |
| Bloomberg | MUNRE |
| Stock exchange listing | Luxembourg |
The sole aim of this overview is to provide a simplified and non-binding summary. The offering prospectus alone is legally binding.
Bond terms
For further details, please see the bond T&C:
T&C (PDF, 440 KB)
| Issuer | Type | Volume nominal | Coupon rate p. a. | Emission/ Issue | Maturity |
|---|---|---|---|---|---|
| Münchener Rückversicherungs- Gesellschaft AG, Munich | Subordinated bond | €900m | Until 2022 6.25%, thereafter variable | 2012 | 2042 |
Details
The €900m bond ends on 26 May 2042. Münchener Rückversicherungs-Gesellschaft AG, as the issuer, has the right to call them for early redemption in 2022. The bonds have a coupon of 6.25% p.a. until 26 May 2022. If they are not redeemed early, the coupon as from 26 May 2022 will be 495 basis points above 3-month EURIBOR.
Details of the bonds
| Issuer | Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München |
|---|---|
| Volume | €900m |
| Denomination | €100,000 |
| Issue price | 99.38% |
| Redemption price | 100.00% |
| Coupon p.a. up to first call date | 6.25% |
| Coupon p.a. after first call date | 3-month EURIBOR + 395bp + 100bp step up |
| Option deferral | Under premises as defined in the conditions of issue the issuer has the option to defer the coupon. |
| Mandatory Deferral | Coupons will be mandatorily deferred where the issuer breaches minimum solvency requirements (referred to as the "Solvency Event") |
| Settlement of deferred coupons | Cash Cumulative |
| Term | 26 May 2042 |
| Date of issue | 29 March 2012 |
| Coupon date | 26 May, starting in 2012 |
| First call date | 26 May 2022 |
| Early call provisions | Customary call events prior to first call date: Gross up, Tax, Accounting, Capital and Regulatory Event. |
| Subordination | The notes are subordinated to senior creditors |
| German securities identification number | A1ML16 |
| ISIN | XS 076 427 852 8 |
| Bloomberg | MUNRE |
| Stock exchange listing | Luxembourg |
The sole aim of this overview is to provide a simplified and non-binding summary. The offering prospectus alone is legally binding.
Bond terms
For further details, please see the bond T&C:
T&C (PDF, 392 KB)
| Issuer | Type | Volume nominal | Coupon rate p. a. | Emission/ Issue | Maturity |
|---|---|---|---|---|---|
| Münchener Rückversicherungs- Gesellschaft AG, Munich | Subordinated bond | £450m | Until 2022 6.625%, thereafter variable | 2012 | 2042 |
Details
The £450m bond ends on 26 May 2042. Münchener Rückversicherungs-Gesellschaft AG, as the issuer, has the right to call them for early redemption in 2022. The bonds have a coupon of 6.625% p.a. until 26 May 2022. If they are not redeemed early, the coupon as from 26 May 2022 will be 495 basis points above 3-month LIBOR.
Details of the bonds
| Issuer | Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München |
|---|---|
| Volume | £450m |
| Denomination | £100,000 |
| Issue price | 99.797% |
| Redemption price | 100.00% |
| Coupon p.a. up to first call date | 6.625% |
| Coupon p.a. after first call date | 3-month LIBOR + 395bp + 100bp step up |
| Optional deferral | Under premises as defined in the conditions of issue the issuer has the option to defer the coupon. |
| Mandatory Deferral | Coupons will be mandatorily deferred where the issuer breaches minimum solvency requirements (referred to as the "Solvency Event") |
| Settlement of deferred coupons | Cash Cumulative |
| Term | 26 May 2042 |
| Date of issue | 29 March 2012 |
| Coupon Date | 26 May, starting in 2012 |
| First call date | 26 May 2022 |
| Early call provisions | Customary call events prior to first call date: Gross up, Tax, Accounting, Capital and Regulatory Event. |
| Subordination | The notes are subordinated to senior creditors |
| German securities identification number | A1ML15 |
| ISIN | XS 076 427 828 8 |
| Bloomberg | MUNRE |
| Stock exchange listing | Luxembourg |
The sole aim of this overview is to provide a simplified and non-binding summary. The offering prospectus alone is legally binding.
Bond terms
For further details, please see the bond T&C:
T&C (PDF, 391 KB)
| Issuer | Type | Volume nominal | Coupon rate p. a. | Emission/ Issue | Maturity |
|---|---|---|---|---|---|
| ERGO Versicherung Aktiengesellschaft, Vienna | Registered bonds | €7m | Secondary market yield on federal government bonds (Austria) +70 BP | 1998 | undated |
| ERGO Versicherung Aktiengesellschaft, Vienna | Registered bonds | €6m | Secondary market yield on federal government bonds (Austria) +70 BP | 2001 | undated |
| HSB Group Inc., Delaware | Bond | US$ 67m | LIBOR +91 BP | 1997 | 2027 |
Bonds and notes issued
| Issuer | Type | Volume | Coupon rate p. a. | Emission/ Issue | Maturity |
|---|---|---|---|---|---|
| Munich Re America Corporation, Wilmington | Senior bond | US$ 334m | 7.45% | 1996 | 2026 |