09.07.2013 |
The information in this release is not intended for publication in or tansmission to or within the United States of America, Australia, Canada or Japan.
The UNIQA Group (UNIQA) plans to issue a supplementary capital bond with a volume of up to EUR 350 million via the listed Group holding company UNIQA Versicherungen AG. The issuance will be processed in the coming weeks depending on current market conditions and upon a road show in the UK and continental Europe.
The supplementary capital bond is expected to comply with the latest regulatory requirements for capital adequacy calculations (supplementary capital under Solvency I) as well as the foreseeable requirements for capital adequacy calculations under the Solvency II regime, which is expected to come into force in 2016. The issuance serves to replace supplementary capital bonds from Austrian insurance group companies that have been withdrawn or are to be withdrawn and to strengthen the capital resources and capital structure of UNIQA and to optimise them in the long term in preparation for Solvency II.
The offer of the new supplementary capital bond will be address institutional investors in Europe. JP Morgan, Raiffeisen Bank International and BNP Paribas are acting as joint lead managers.
Preparations for re-IPO not affected
This bond issue will not affect the preparations for the planned Re-IPO. Depending on market conditions, UNIQA is planning a capital increase via the stock market (Re-IPO) that could increase its free float to 49%.
Reservations concerning statements about the future
This message contains statements that refer to future developments in the UNIQA Group. These statements are appraisals that are made based on all information available to us at the current point in time. If the assumptions on which they are based do not occur, the actual events may vary from the results currently expected. For this reason, we cannot accept liability for these statements.
Vienna, 9. July 2013