Generali announces early redemption of its GBP350,000,000 6.269% Perpetual Fixed/Floating Rate Notes
05 January 2026 - 17:02
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO OR TO ANY PERSON LOCATED AND RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT
Trieste – Assicurazioni Generali S.p.A. (the “Issuer”) hereby announces that it has elected to exercise the option to redeem, on the 5 February 2026 (the “Regulatory Event Redemption Date”), in accordance with Condition 6(b) (Redemption due to a Regulatory Event), all outstanding notes the details of which are set out below (the “Notes”):
Description of the Notes: GBP350,000,000 6.269% Perpetual Fixed/Floating Rate Notes issued by Assicurazioni Generali S.p.A. on 16 June 2006.
ISIN Code: XS0257010206
Coupon: 6.269% per annum up to (and excluding) 16 June 2026, subject to the terms and conditions of the Notes.
Current outstanding principal amount of the Notes: GBP350,000,000
Make Whole Amount: 104.719%
Listing: Luxembourg Stock Exchange
In accordance with Article 308b (Transitional measures) of the Solvency II Directive, the Notes have ceased to qualify as Tier 1 basic own funds on 1 January 2026.
The Issuer has given notice to the Noteholders that, in accordance with Condition 6(b) (Redemption due to a Regulatory Event), the outstanding Notes will be redeemed in full on the Regulatory Event Redemption Date, at the Make Whole Amount, subject to the terms and conditions of the Notes.
The Issuer has informed Istituto per la Vigilanza sulle Assicurazioni (IVASS) of its intention to redeem the Notes.