DGAP-News: Hannover Rückversicherung AG / Key word(s): Bond Hannover Re successfully issues hybrid bond 13.11.2012 / 17:40 --------------------------------------------------------------------- Press release Hannover Re successfully issues hybrid bond Hannover, 13 November 2012: Hannover Re has today successfully placed a new EUR 500 million subordinated bond in the European debt capital markets via its subsidiary Hannover Finance (Luxembourg) S. A. The issue - which was oversubscribed several times - was placed principally with institutional investors in Europe. 'With this bond issue we are taking advantage of the currently prevailing very attractive level of interest rates to further optimise our capital structure', Chief Executive Officer Ulrich Wallin commented. The bond has a maturity of approximately 30 years, with a first scheduled call option on 30 June 2023. It carries a fixed coupon of 5.00% p.a. until this date, after which the interest basis changes to a floating rate of 3-month EURIBOR + 430 basis points. The banks entrusted with handling this transaction were Commerzbank - as the structuring advisor, J.P. Morgan, Société Générale Corporate and Investment Banking and UniCredit Bank AG. Hannover Re traditionally uses hybrid bonds to optimise its cost of capital. Following the successful new issue the company has four outstanding hybrid bonds in the capital markets. For further information please contact: Media Relations: Gabriele Handrick (tel. +49 511 5604-1502, e-mail: gabriele.handrick@hannover-re.com) Investor Relations: Julia Hartmann (tel. +49 511 5604-1529, e-mail: julia.hartmann@hannover-re.com) Please visit: www.hannover-re.com Hannover Re, with a gross premium of around EUR 12 billion, is the third-largest reinsurer in the world. It transacts all lines of non-life and life and health reinsurance and is present on all continents with around 2,200 staff. The rating agencies most relevant to the insurance industry have awarded Hannover Re very strong insurer financial strength ratings (Standard & Poor's AA- 'Very Strong' and A.M. Best A+ 'Superior'). Please note the disclaimer: www.hannover-re.com/misc/disclaimer-pr-050811 End of Corporate News --------------------------------------------------------------------- 13.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Hannover Rückversicherung AG Karl-Wiechert-Allee 50 30625 Hannover Germany Phone: +49-(0)511-5604-1500 Fax: +49-(0)511-5604-1648 E-mail: info@hannover-re.com Internet: www.hannover-re.com ISIN: DE0008402215 WKN: 840 221 Indices: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), Hannover; Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Terminbörse EUREX End of News DGAP News-Service --------------------------------------------------------------------- 193057 13.11.2012
DGAP-News: Hannover Re successfully issues hybrid bond
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