Results

Pozavarovalnica Sava dd

10/21/2019 | Press release | Distributed by Public on 10/21/2019 09:09

Decision to issue subordinated notes

21/10/2019

Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana, hereby announces the following:

Following the public announcement on 7 October 2019, Sava Re d.d. (hereinafter also: the Company or Issuer) informs the public that, on 21 October 2019, it adopted the decision to issue subordinated notes with ISIN XS2063427574 (hereinafter also: notes) with the following key features:

  • the aggregate principal amount of the subordinated notes (issued in the denomination of EUR 100,000) is EUR 75 million;
  • unless previously redeemed by the issuer, the notes will be redeemed at par on 7 November 2039;
  • the notes will bear interest rate during the first ten years at a fixed rate of 3,75 % p.a.; thereafter the notes will bear interest at a floating interest rate based on the sum of the 3-month Euro Interbank Offered Rate (expressed as a percentage rate per annum) and the margin of 683 % (equal to the original issue spread 368.3 plus 100 bps step-up);
  • the prospectus (including the terms and conditions of the notes) will be published on the Luxembourg Stock Exchange and website of the Issuer on the issue date.

The Issuer will inform the public about the outcome of the offering on 28 October 2019.

This transaction is structured and lead managed by Erste Group Bank AG.