Athora Netherlands issues €500 million subordinated Tier 2 notes
1 juni 2022
Athora Netherlands N.V. (Athora Netherlands) successfully issued a €500 million subordinated Tier 2 capital instrument. The notes were priced at 400.5 basis points over the 5 year mid-swap rate, with an initial fixed rate coupon of 5.375%.The notes have a first call date on 31 May 2027.
The transaction was well received in capital markets with investors placing orders for over €0.8 billion. The notes are expected to be rated by Fitch (BBB-) and will be listed on the Irish Stock Exchange (ISIN: XS2468390930).
The proceeds of the notes will be applied by Athora Netherlands to optimise its financing structure and to fund the tendered subordinated notes issued by VIVAT NV in 2017 (ISIN XS1717202490) for a principal amount of USD 505.6 million.