Gleiss Lutz has advised the supervisory board of HDI V.a.G, as the majority shareholder of Talanx AG, on securing a financing package with a volume of EUR 1.25 billion for Talanx. One part consists of a senior unsecured bond with a volume of EUR 500 million. For the other part, HDI subscribed for a EUR 750 million bond with identical terms and conditions that was issued in a private placement.
The two bonds, which are denominated in euros, have a fixed coupon of 4.0% and a maturity date of 25 October 2029. The cash inflows will mainly be used to redeem existing financing, such as the EUR 750 million bond set to mature on 13 February 2023. The bond has been issued by Talanx AG and will be listed on the Luxembourg Stock Exchange.
With a stake of around 79%, HDI V.a.G. is the largest shareholder of Talanx AG. Talanx is the third largest German insurance group based on premium income, and one of the largest in Europe. With headquarters in Hanover, the group is active in more than 175 countries.
The supervisory board of HDI was advised by the following team of Gleiss Lutz lawyers: Dr. Andreas Löhdefink (partner, M&A, Frankfurt), Prof. Michael Arnold (partner, Corporate, Stuttgart, both lead), Dr. Tobias Harzenetter (partner, Corporate, Munich), Dr. Kai Arne Birke (partner, Finance, Frankfurt), Dr. Matthias Tresselt (partner, Restructuring, Stuttgart), Richard L. Notz, Dr. Moritz Rudzio (counsel), Dr. Nikolai Unmuth, Dr. Jan-David Geiger (all Corporate, Stuttgart), Dr. Philipp Jaspers (M&A, Frankfurt).
Forward
