Generali SpA

    premises & global services
                             

    Debt & ratings

    Debt & ratings

    Liabilities are split into two categories: liabilities linked to operating activities (consolidated financial liabilities related to specific balance sheet items) and liabilities linked to financing activities (including the other consolidated financial liabilities).

    (€ million) 31/12/2016 31/12/2015
    Liabilities linked to operating activities 38,747 36,787
    Liabilities linked to financing activities 12,669 13,117
      Subordinated liabilities 9,126 9,643
      Senior bonds 3,017 2,992
      Other non subordinated liabilities linked to financing activities 526 482
    Total 51,416 49,904

    The weighted average cost of liabilities linked to financing activities at 31 December 2016 amounted to 5.67%, similar to the 5.65% at 31 December 2015 and the 5.68% at 30 September 2016.

    Average cost & maturity of financial debt (%)

      2016 2015
    Average cost 5.67% 5.65%
      Subordinated/Hybrid 6.14% 6.13%
      Senior 4.18% 4.17%
    Average maturity (years) 6.72 6.68

    Total financial debt

    Total financial debt


    (1) The amount of financial debt  as of 2015 December, 31, includes the subordinated bond issued in October 2015, for a nominal amount of Euro 1.25 bn, to refinance 2016 callable hybrid bonds

    (2) The amount of financial debt as of 2016 December, 31, includes the subordinated bond issued in June 2016, for a nominal amount of Euro 850 m, to refinance 2017 callable hybrid bond