Generali blowout T2 deal stresses demand for green sub debt

By David Freitas
06 Jul 2020

Assicurazioni Generali launched a greent tier two capital bond in euros on Monday, confirming the appetite for riskier products across bank capital. The new deal left no premium on the table as the issuer capitalised on demand for green subordinated debt.

Generali launched €600m of 11 year tier two in green format at 255bp over mid-swaps, supported by over €5.4bn of demand.

The Italian issuer opened books as European stocks and credit spreads opened on the green, supported by a favourable session in Asia.

Joint lead managers Bank ...

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