Hannover Re issues additional hybrid capital

09 September 2014

Hannover Re has today successfully placed a new EUR 500 million subordinated bond on the capital market. The issue was placed predominantly with institutional investors in Europe.

The issue has a perpetual maturity with a first scheduled call option for Hannover Re after approximately ten years. It carries a fixed coupon of 3.375% p.a. until this date, after which it can be called at each coupon date and the interest rate basis changes to 3-month EURIBOR + 325 basis points. The banks mandated to handle this transaction were Commerzbank - as the structuring advisor - as well as Barclays Bank, Citigroup and Crédit Agricole.

Hannover Re traditionally uses hybrid bonds to optimise its cost of capital. Following this successful new issue the company has four hybrid bonds outstanding on the capital market.

Quick Polls


Most of the changes that companies are currently facing are driven by?


Technology and social media
The economic and political climates
Changing consumer demands
A E fanews magazine
FAnews June 2019 Get the latest issue of FAnews

This month's headlines

New realities of customer engagement
Success in the new CPD cycle
Shedding light on the reinstatement clause
Resisting the winds of change
Claim statistics tell the story
Growth assets for living annuity investors
Subscribe now