Generali welcomes blowout demand for debut green tier two

By David Freitas
23 Sep 2019

Assicurazioni Generali has become the first European financial institution to launch a green tier two bond. The Italian insurer attracted €3.25bn of orders, helping it to price its €750m deal about 10bp inside fair value, according to a syndicate banker.

Bank of AmericaBBVACrédit AgricoleDeutsche BankJP Morgan, Mediobanca, Morgan Stanley and Société Généralewere the lead managers for the 11 year bullet tier two bond.

They started the trade with price thoughts of 260bp area over mid-swaps, helping orders to rise to above €2bn two hours ...

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