VIVAT Prices Debt Offering of EUR 300 Million of Subordinated Restricted Tier 1 Notes

The EUR 300 million subordinated notes are perpetual and are first callable after 7 years and each interest payment date thereafter, subject to conditions to redemption. The coupon is fixed at 7.000% per annum until the first call date. These notes are expected to qualify as Restricted Tier 1 Own Funds. The subordinated notes are expected to be rated by Fitch (BB-) and will be listed on the Irish Stock Exchange (ISIN: XS1835946564).

The net proceeds of the subordinated notes will be applied by VIVAT to optimise its financing structure including the repayment of EUR 150 million of the EUR 400 million subordinated notes issued by SRLEV NV due 2041 (ISIN: XS0616936372) that were subject to a separate tender offer. Any remaining proceeds will be applied for general corporate purposes.