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Slovenia's Triglav issues 100 mln euro subordinated bond

Jul 11, 2024, 1:20:58 PMArticle by Radomir Ralev
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July 11 (SeeNews) - Slovenia's Triglav Group, the parent of insurer Zavarovalnica Triglav [LJE:ZVTG], has issued a 20.5-year subordinated bond worth 100 million euro ($108 million) on July 9, the company said.

Slovenia's Triglav issues 100 mln euro subordinated bond
Author: Radomir Ralev

The securities are callable after 10.5 years and bear a yield of 6.75%, Zavarovalnica Triglav said in a filing with the Ljubljana Stock Exchange earlier this week.

Until the bond's first call date, the annual interest rate will remain fixed at 6.7% with annual coupon payments, after which it will become variable and the coupon will be paid quarterly, Zavarovalnica Triglav said.

"Issuing the bond is part of the regular capital management of the Triglav Group and is carried out by the insurance company every few years. The successful issue additionally confirms the high level of trust that institutional investors place in Triglav Group," the company noted.

The bonds were issued for well-informed investors and will be traded on the organised market of the Luxembourg Stock Exchange.

($ = 0.92149 euro)

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