(Alliance News) - Assicurazioni Generali Spa on Tuesday announced the final results of the cash repurchase of three bonds.

When the offer expired, the aggregate nominal amount of securities offered for repurchase amounted to EUR1.29 billion, representing approximately 49 percent of the total nominal amount of outstanding bonds.

As the company explained in a note, Generali will accept in repurchase an aggregate nominal amount of EUR500 million of the EUR4.596% securities.

Generali has also completed the issuance of a new euro bond maturing in July 2035, issued in the form of a green bond.

The new bonds received investor demand of more than EUE2.1 billion during the bookbuilding phase, more than 4 times the offer, from a highly diversified base of more than 180 institutional investors, including a significant presence of funds with Green/SRI mandates.

Generali Group CFO Cristiano Borean commented, "The transaction is consistent with our proactive approach to debt maturity profile management. It reduces refinancing risk and extends the average maturity of our debt, about 50 percent of which is issued in ESG format. It will also lead to a lower average cost of debt."

Assicurazioni Generali rises 1.5 percent to EUR28.68 per share.

By Claudia Cavaliere, Alliance News reporter

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