EXOR (rated BBB+ with negative outlook by Standard & Poor’s) announces the successful issue of Euro 750 million notes due December 2, 2022, with an issue price of 99.499% and a fixed annual coupon of 2.125%.
The effective yield to maturity is 2.203%.
The purpose of the issue is to raise new funds for EXOR’s general corporate purposes, including the refinancing linked to the acquisition of PartnerRe Ltd.
The notes will be listed on the Luxembourg Stock Exchange and the settlement of the issue will take place on December 3, 2015.
This press release is not, and shall not constitute, an offer to sell or a solicitation of an offer to buy the notes, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful or restricted by law, including the Republic of Italy. No action has been or will be taken to permit a public offering of the notes in any jurisdiction, including the Republic of Italy. The notes may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act as amended (the “Securities Act”)) unless registered under the U.S. Securities Act or pursuant to an exemption from such registration. Such notes have not been, nor will be, registered under the U.S. Securities Act or any other securities laws. The offering of the notes has not been cleared by the Commissione Nazionale per le Società e la Borsa (CONSOB), pursuant to Italian securities legislation. Accordingly, the notes have not been and will not be offered, sold or delivered in Italy in an offer to the public.
Not for distribution in the United States and any other jurisdiction where distribution of this press release is restricted by law.