Generali to Issue Second Green Bond
June 30 2020 - 6:34AM
Dow Jones News
By Pietro Lombardi
Assicurazioni Generali SpA said Tuesday that it will issue a
green bond of up to 600 million euros ($674.6 million) and buy back
some notes in a move that will lower interest expenses on its
debt.
The Italian insurance giant said the new green bond, its second,
will have a maturity of 2031 and will be offered to qualified
investors.
"The transaction aims to achieve a more balanced maturity
profile and reduce interest costs in future years," Chief Financial
Officer Cristiano Borean said.
"The issuance of the Group's second green bond represents
another important step in fulfilling the Group's sustainability
commitments."
The insurer will buy back bonds for a value that won't exceed
the value of the new bond.
Last year, the company issued its first green bond, amounting to
EUR750 million.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
June 30, 2020 06:19 ET (10:19 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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