Pozavarovalnica Sava

Capital/Financing Update • Oct 22, 2019

Category: Inside information

Published on: SEOnet

Published at:  21.10.2019 16:30

Published document ID: INI-674/19

INI-663/19

SAVA RE, d. d., Ljubljana

Regarding the document: Sava Re d.d. considers options for issuing subordinated bonds

Decision to issue subordinated notes

Pursuant to the Rules of the Ljubljana Stock Exchange d.d., Ljubljana, and the Market in Financial Instruments Act, Sava Re d.d., Dunajska 56, Ljubljana, hereby announces the following:

Following the public announcement on 7 October 2019, Sava Re d.d. (hereinafter also: the Company or Issuer) informs the public that, on 21 October 2019, it adopted the decision to issue subordinated notes with ISIN XS2063427574 (hereinafter also: notes) with the following key features:

• the aggregate principal amount of the subordinated notes (issued in the denomination of EUR 100,000) is EUR 75 million;
• unless previously redeemed by the issuer, the notes will be redeemed at par on 7 November 2039;
• the notes will bear interest rate during the first ten years at a fixed rate of 3,75 % p.a.; thereafter the notes will bear interest at a floating interest rate based on the sum of the 3-month Euro Interbank Offered Rate (expressed as a percentage rate per annum) and the margin of 4.683 % (equal to the original issue spread 368.3 plus 100 bps step-up);
• the prospectus (including the terms and conditions of the notes) will be published on the Luxembourg Stock Exchange and website of the Issuer on the issue date.

The Issuer will inform the public about the outcome of the offering on 28 October 2019.

This transaction is structured and lead managed by Erste Group Bank AG.

This announcement will also be available on the Company’s website at www.sava-re.si, at least five years from the date of this announcement.

The Management Board

Date: 22.10.2019