Talanx secures €1 billion in dual debt deals to refinance obligations
Frankfurt. White & Case is advising a consortium of banks on a €500 million bond issuance and a €500 million private placement by Talanx AG.
According to a statement, White & Case advised a banking syndicate on the issuance of fixed-rate notes by Talanx AG, totaling €500 million in nominal value. Simultaneously, Talanx AG issued another set of fixed-rate notes worth €500 million, which were fully subscribed in a private placement by HDI, the majority shareholder of Talanx AG. As part of this transaction, White & Case also advised Deutsche Bank AG, which arranged the private placement.
The Bonds
The notes have been admitted to trading on the regulated market of the Luxembourg Stock Exchange and carry identical terms: a seven-year maturity and a fixed annual coupon of 3.750%.
Talanx AG will use the net proceeds from both tranches to refinance maturing debt and for general corporate purposes within the group. The White & Case team was led by partner Karsten Wöckener, along with local partner Felix Biedermann and associate Robin Pichler (all Capital Markets).
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