Linklaters advises Talanx on €1bn dual tranche issuance

Linklaters has advised Talanx AG on a dual tranche financing package with a total volume of €1 bn. The transaction comprises a senior unsecured bond with a volume of €500m, which was broadly placed with institutional investors in Germany and internationally. In parallel, HDI V.a.G., the majority shareholder of Talanx AG, subscribed for a further bond with identical terms in the amount of €500m by way of a private placement.

Both euro denominated bonds carry a fixed coupon of 3.75 % and have a maturity in 2033. The first mentioned bond is admitted to trading on the regulated market of the Luxembourg Stock Exchange. The proceeds of the issuance are intended to be used primarily to refinance existing indebtedness.

The issuance was accompanied by Barclays, Deutsche Bank, ING and Natixis as joint lead managers.

Talanx is one of the large insurance groups in Europe. The Hannover-based company is active in more than 175 countries. The Talanx Group operates as a multi-brand provider with a focus on B2B insurance.

The Linklaters team was led by Dr Alexander Schlee (Partner) together with Dr Rowina Ullner (Counsel, both Capital Markets, Frankfurt). Further team members included Martin Rojahn (Partner) and Tabea Meißner (Associate, both Capital Markets, Frankfurt).