Assicurazioni Generali SpA sold a €500 million ($587.3 million) perpetual bond, as the Italian insurer’s planned asset management tie-up with BPCE SA faces mounting challenges.
The debut Restricted Tier 1 notes priced at 4.75%, according to a person with knowledge of the deal, much lower than where they had initially been marketed to investors. The offering attracted more than €4.6 billion of investor bids.
The transaction adds to a surge in issuance of Restricted Tier 1 notes this year. Volumes year-to-date are already running almost 19% ahead of 2024’s total, according to data compiled by Bloomberg, highlighting strong investor appetite ...
