(Alliance News) - Assicurazioni Generali Spa announced Monday that it has placed two senior euro bonds, maturing in January 2029 and 2034.

During the placement, total orders on the two series of bonds amounting to more than EUR2 billion were collected from more than 80 highly diversified international institutional investors, including a significant representation of funds with sustainable/SRI mandates.

Both issues attracted strong interest from international investors, who accounted for more than 80 percent and 90 percent of the orders placed for the 2029 and 2034 bonds, respectively, "confirming the strong reputation the group enjoys in international markets," Generali said.

Thirty-five percent of the 2029 bonds were allocated to Italian and French investors , 30 percent to investors in Germany, followed by Spain and Portugal with 13 percent. In contrast, considering the 2034 bonds, 30 percent were allocated to UK investors, about 30 percent to investors in Italy and France, followed by German investors, who accounted for about 22 percent.

Generali Group CFO Cristiano Borean said, "The successful placement of today's two green issues is further confirmation of Generali's solid financial position and our approach to sustainability. Following this transaction, the group is reported to have placed a total of eight bonds with ESG characteristics. It is expected that, by the end of 2024, bonds in green and sustainable formats will account for about 40 percent of all our outstanding financial debt. This result is fully in line with the goal of efficient management of debt and its costs, combined with the strong commitment to sustainability as set out in the strategic plan 'Lifetime Partner 24: Driving Growth'."

Generali's stock closed Monday up 0.3 percent at EUR19.80 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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