Milan, 4 December 2024 – Banca Generali S.p.A. (the “Issuer”) announces that, having received the Bank of Italy’s authorisation, it will exercise the option to early redeem in whole the outstanding €50 million Additional Tier 1 Notes on their first call date. The Notes had been issued on 23 December 2019 and fully subscribed by Generali Group companies.
The above-mentioned Notes will be fully redeemed on 23 December 2024. The redemption will be carried out in compliance with the terms and conditions of the said Notes and with the applicable laws in force. The early redemption of the Notes will be at par, together with accrued and unpaid interest. Interest shall cease to accrue on the early redemption date. The Issuer has appointed BNP Paribas as Paying Agent for the redemption.
Moreover, it should be noted that on 8 August 2024 Banca Generali issued a new Additional Tier 1 bond for a total amount of €100 million, fully subscribed by Generali Group companies in the form of a private placement. The issue is aimed at repaying the above Notes, as well as at achieving more flexible compliance with the higher requirements introduced by Basel IV for the Bank.
