Talanx released details for the repurchase of selected bonds
Talanx AG wants to optimize their capital structure. Against this background of selected bonds creditors the option of Talanx have these available for repurchase. The invitation is aimed at investors in the bond maturing in 2024, HDI-Gerling Industrie Versicherung AG (ISIN: XS0198106238) as well as to investors in 2025 due to the Talanx Finance (Luxembourg) SA (ISIN: XS0212420987). Talanx AG will be used to buy bonds at a total cash amount of 200 million euros. Accrued interest payments are not included.
"The Tender Offer is part of our strategy to optimize the capital structure and reduce ongoing interest costs in the medium term," said Dr. Immo Querner, CFO of Talanx. "For the creditors of the bonds, this is an attractive opportunity to separate himself at an advantageous price of securities with limited liquidity." Talanx AG intends to offer its bonds of HDI-Gerling Industrie Versicherung AG, a payment of 104.5 percent per bond and a payment of 94.0 percent per bond Talanx Finance (Luxembourg) SA to afford. As the maximum repurchase volume is distributed on the two bonds, is at the sole discretion of the Group. The Talanx will also pay accrued interest on the bonds under the offer accepted. After the indicative timetable, the creditors of the possibility that they hold the bonds until 6 Talanx Offering in July 2012, 17.00 clock (Frankfurt time) on the purchase. The settlement is on the 11th Place in July 2012.