Successful placement of Munich Re bond with a total volume of €1.5bn / Bond issue as a further module in active capital management
Munich Re has successfully placed the recently announced subordinated bond. The volume of the issue amounts to €1.5bn. This bond, offered to institutional investors, has generated considerable interest and is several times oversubscribed.
It concerns a perpetual bond that is callable by Munich Re from ten years after the date of issue. Up to then, it will have a fixed coupon rate of 5.767% p.a. and thereafter a floating rate.
Under the Changing Gear programme, active capital management is a very important instrument. "We are pleased at the high level of demand for this bond. It impressively underlines the attractiveness of Munich Re on the capital markets", said Munich Re CFO Jörg Schneider. "The successful placement contributes to our capital management and thus also further optimises our costs of capital."
signed Dr. Schneider signed Dr. Lawrence
This press release is for information purposes only and is not an offer to sell, or the solicitation of an offer to buy, any securities in the United States. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States, except in a transaction not subject to or pursuant to an applicable exemption from the registration requirements of the Securities Act. There will be no public offer of the securities in the United States.
This press release and the information contained herein may not be distributed in or sent to the United States of America and should not be distributed to US persons or publications with a general circulation in the United States.
In the United Kingdom, this press release is directed exclusively at persons who fall within Article 19 or 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 or to whom this announcement may otherwise be directed without contravention of Section 21 of the Financial Services and Markets Act 2000. The bonds referred to in this press release will be issued only to such persons.
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.