Allianz Prices Three-Part Euro and Sterling Bond

By Sarka Halas

German insurance and financial services group Allianz SE (ALV.XE) has priced its triple-tranche euro and sterling senior unsecured bond, one of the lead managers on the deal said Tuesday.

Commerzbank AG, Deutsche Bank AG, HSBC Holdings PLC and Societe Generale SA were arranging the deal.

The terms of the transaction are as follows:

 
Amount:           GBP750 million 
Maturity:         March 13, 2043 
Coupon:           4.5% 
Reoffer Price:    98.672 
Payment Date:     March 13, 2013 
Spread:           125 basis points over gilts 
Debt Ratings:     Aa3 (Moody's) 
                  AA- (Standard & Poor's) 
Denominations:    GBP100,000 
Listing:          Luxembourg 
 
Amount:           EUR750 million 
Maturity:         March 13, 2028 
Coupon:           3.00% 
Reoffer Price:    97.949 
Payment Date:     March 13, 2013 
Spread:           98 basis points over midswaps 
Denominations:    EUR100,000 
Listing:          Luxembourg 
 
Amount:           EUR500 million 
Maturity:         March 13, 2018 
Coupon:           1.375 
Reoffer Price:    99.89 
Payment Date:     March 13, 2013 
Spread:           48 basis points over midswaps 
Denominations:    EUR100,000 
Listing:          Luxembourg 

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