The Viridium Group has successfully debuted on the international capital markets with the issuance of an €850 million subordinated bond. The transaction is closely linked to the recently completed acquisition of the Viridium Group by a consortium of investors consisting of T&D Holdings, Allianz, BlackRock, Generali Financial Holdings, Santander Insurance and PG3.
The bond was issued by the new parent company of the Viridium Group, based in Luxembourg, and has a scheduled maturity date in 2035. The purpose of the bond is to furnish the issuer with Tier 2 basic own-fund items on a consolidated basis. The bond was issued under German law and is listed on the Euro MTF market of the Luxembourg Stock Exchange.
The proceeds from the bond issue will be used for general corporate purposes, including the refinancing of a bridge facility drawn down in connection with the acquisition of the Group.
The Viridium Group is a leading life insurance consolidator and a top five life insurance group in the German market.
Hengeler Mueller advised the banks involved in the transaction.
Hengeler Mueller team for Joint Lead Manager
Capital Markets: Alexander Rang (partner, lead), Pascal Brandt (senior associate), Konrad Schäfer (associate, all Frankfurt),
Insurance/Financial Market Supervision: Carl-Philipp Eberlein (partner, lead, Düsseldorf).
