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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Generali Ass | BIT:G | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30 | 1.31% | 23.20 | 23.10 | 23.29 | 23.29 | 22.95 | 22.95 | 3,421,409 | 17:00:00 |
From May 2019 to May 2024
By Serena Ruffoni
Italian insurance giant Assicurazioni Generali (G.MI) has lowered its interest rate expectations for its proposed subordinated bond after drawing more demand than it first anticipated.
The 30-year bond has attracted over eight billion euros ($10.4 billion), one of the banks arranging the deal said Wednesday after a series of investor meetings in Europe. It is now expected to price at 7.75%, instead of around 8.125% indicated earlier in the morning.
Credit Agricole, Morgan Stanley, Nomura, UBS and UniCredit are arranging the meetings.
The bond will be rated Baa3 by Moody's Investors Service, BBB+ by Standard & Poor's and BBB- by Fitch Ratings. Ratings are lower than Generali's credit rating because the bond ranks junior to the company's senior securities.
Write to Serena Ruffoni at serena.ruffoni@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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