rivetto
Nuovo Utente
- Registrato
- 19/10/12
- Messaggi
- 6.147
- Punti reazioni
- 1.608
VITTORIA ASSICURAZIONI €250MM 10Y BULLET TIER 2 - IPTs 6.000% area
Issuer: Vittoria Assicurazioni S.p.A.
Issuer Rating: BBB (Fitch / stable)
Exp. Issue Rating: [BBB-]
Instrument: Solvency II, Tier 2 Fixed Rate Subordinated Notes
Issue Size: EUR 250 MM (no-grow)
Settlement Date: 11 Jul 2018 (T+5)
Maturity: 11 Jul 2028 (10y bullet) subject to the satisfaction
of the Conditions for Redemption and Purchase, as set
out in the Preliminary Listing Particulars
IPTs: 6.000% area
Coupon: [●%] Annual (Act/Act ICMA)
Optional Int. Deferral: Not Applicable
Mandatory Int. Deferral: If (i) payment of the relevant Interest and/or Arrears
of Interest may cause the insolvency of the Issuer,
(ii) non-compliance with the Solvency Capital
Requirement (SCR) or the Minimum Capital Requirement
(MCR), (iii) notification of the Lead Regulator that
the financial and solvency condition of the Issuer or
the Vittoria Insurance Group is deteriorating in a
manner that there would be non-compliance with the SCR
or the MCR, or (iv) the Issuer being for any other
reason required by the Applicable Regulations to defer
payment of Interest and/or Arrears of Interest
Arrears of Interest: Cumulative (non-compounding)
Early Redemption Events: At par upon a Tax Event, Regulatory Event, Rating
Methodology Event, subject to the satisfaction of the
Conditions for Redemption and Purchase, as set
out in the Preliminary Listing Particulars
Exchange / Variation: Upon a Tax Event, Regulatory Event or Rating
Methodology Event
Use of Proceeds: Optimising the allocation of the Issuer’s capital, as
described in details in “Use of Proceeds” of the
Preliminary Listing Particulars
Denomination: EUR 100k + 1k
Governing law: English law, except for status of the notes clause
which shall be governed by Italian law
Listing: Euronext Dublin Global Exchange Market
Format / Distr. / Docs: Bearer, RegS, Standalone Listing Particulars
ISIN: [TBD]
GloCo / Structuring: Morgan Stanley
Joint Lead Managers: Banca Akros S.p.A. – Gruppo Banco BPM, Morgan Stanley
Target Market/PRIIPs: Manufacturer target market (MIFID II product
governance) is eligible counterparties and
professional clients only (all distribution channels).
No PRIIPs key information document (KID) has been
prepared as not available to retail in EEA
Timing: Books open. Today's business
Issuer: Vittoria Assicurazioni S.p.A.
Issuer Rating: BBB (Fitch / stable)
Exp. Issue Rating: [BBB-]
Instrument: Solvency II, Tier 2 Fixed Rate Subordinated Notes
Issue Size: EUR 250 MM (no-grow)
Settlement Date: 11 Jul 2018 (T+5)
Maturity: 11 Jul 2028 (10y bullet) subject to the satisfaction
of the Conditions for Redemption and Purchase, as set
out in the Preliminary Listing Particulars
IPTs: 6.000% area
Coupon: [●%] Annual (Act/Act ICMA)
Optional Int. Deferral: Not Applicable
Mandatory Int. Deferral: If (i) payment of the relevant Interest and/or Arrears
of Interest may cause the insolvency of the Issuer,
(ii) non-compliance with the Solvency Capital
Requirement (SCR) or the Minimum Capital Requirement
(MCR), (iii) notification of the Lead Regulator that
the financial and solvency condition of the Issuer or
the Vittoria Insurance Group is deteriorating in a
manner that there would be non-compliance with the SCR
or the MCR, or (iv) the Issuer being for any other
reason required by the Applicable Regulations to defer
payment of Interest and/or Arrears of Interest
Arrears of Interest: Cumulative (non-compounding)
Early Redemption Events: At par upon a Tax Event, Regulatory Event, Rating
Methodology Event, subject to the satisfaction of the
Conditions for Redemption and Purchase, as set
out in the Preliminary Listing Particulars
Exchange / Variation: Upon a Tax Event, Regulatory Event or Rating
Methodology Event
Use of Proceeds: Optimising the allocation of the Issuer’s capital, as
described in details in “Use of Proceeds” of the
Preliminary Listing Particulars
Denomination: EUR 100k + 1k
Governing law: English law, except for status of the notes clause
which shall be governed by Italian law
Listing: Euronext Dublin Global Exchange Market
Format / Distr. / Docs: Bearer, RegS, Standalone Listing Particulars
ISIN: [TBD]
GloCo / Structuring: Morgan Stanley
Joint Lead Managers: Banca Akros S.p.A. – Gruppo Banco BPM, Morgan Stanley
Target Market/PRIIPs: Manufacturer target market (MIFID II product
governance) is eligible counterparties and
professional clients only (all distribution channels).
No PRIIPs key information document (KID) has been
prepared as not available to retail in EEA
Timing: Books open. Today's business