(Alliance News) - As Il Sole 24 Ore writes Wednesday, Generali is launching a partial debt restructuring with two main objectives: to reduce the overall cost and to increase the green component.
Against a backdrop of falling rates, as evidenced by the recent early redemption transactions of banks such as UniCredit and Banco BPM, the company announced the repurchase of three series of subordinated bonds for up to EUR500 million, maturing in 2025/2026, the newspaper continues.
At the same time, it issued a EUR500 million green bond with a 4.083 percent coupon, receiving orders for EUR2.1 billion.
This transaction is part of a debt optimization strategy and supports the group's sustainability path, the newspaper further notes.
Cristiano Borean, CFO of Generali, stressed that this is the eighth green bond issued by the company and that the transaction extends the average life of external debt.
By Claudia Cavaliere, Alliance News reporter
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