to our Online Press Center for media and journalists with our latest press releases and downloads.
If you would like to receive our latest press releases automatically, just sign up for our mailing list here:
An exclusive service for media journalists
Via the Press Center, you have access to our press releases and press download area. Utilization of the prepared content is free of charge. With the use of our Online Press Center, you offer an undertaking to only use the content and materials on offer for the purpose of your professional editorial and journalistic activities. Unless subject to a different agreement, basically the photographic material, data and information have been released solely for employment by journalists and press employees.
Right of use and purpose
Within the framework of a simple right of use, the content may only be used for the stated purpose to which the respective materials relate. As a rule, content may be downloaded free of charge and used within the scope of reporting for purposes comprised by press releases, articles in the print media, film and television reports, and publications in the online, mobile and multi-media. Additional utilization for commercial purposes of any description, or private advantage, in particular for advertising, is not permitted and expressly forbidden.
Content and material may be processed and altered, as long as its clear recognition is guaranteed and no changes are made to the content that might possibly result in a meaning other than that originally intended. The content may not be used in a form that distorts its meaning and alienation of the material is not permitted. This does not apply for separately marked content which due to legal restrictions must not be changed.
The right of use is limited to the period during which the content is available in the Press Center and in spatial terms, to the geographical area of the activities of our company. Use of the content in an objectionable or illegal context is not permitted and must desist.
Transfer and duplication
The transfer and/or duplication of the content to/for third parties is not allowed unless absolutely essential within the scope of the stated purpose. The electronic storage of pictorial data, data transfers and all other forms of duplication are only permitted in the course of standard production procedures and during employment that is lawful and in accordance with the intended use. You, or a third party, are forbidden to employ, store or download content as part of a service that is similar to, or replaces, that which we offer.
Copyright, personal rights and legal notice
All content, as well as the design itself, is protected by copyright and personal rights, registered trademark rights and other statutes in connection with intellectual property rights.
All the content contained in the Press Center such as copy, photographs, videos, audio files, documents and other content offered in the system are the property of our company, its licensers or external owners, who provide content and are named in the system. When photographs, films or other images are employed, the name of our company and if existent the proven copyright notice, and/or the name of the photographer or agency are to be given. This shall also apply to electronic publications.
We accept guarantee for the rights of third parties only in case of compliant handling.
Provision of service and content
We make every reasonable effort to ensure the constant provision of services and functions. However, we accept no liability for the availability of content, or access to the Online Press Center and its functionality.
The content provided is prepared without a warranty. We exclude all guarantees of completeness, satisfactory quality and suitability of the content on offer for a certain purpose. In addition, we retain the right to alter all the content contained in the Online Press Center without prior notice.
Content may contain links to other websites. We have no control over the web sites of third party providers and are not responsible for their content or any losses or damages that you may incur from the use of such third party provider websites.
Registration and access
Information that is employed within the scope of entry to the press mailing list or a registration for a press log-in must be made on the basis of correct and current data, correspond with the truth and be complete. If necessary, the information should be updated.
(You are obliged to maintain the secrecy of the access data provided to you and to provide immediate notice in the case of its loss. The security of this user identification is your responsibility. You shall be liable for any use of the services an content on offer and all actions undertaken with your user identification until you have informed us of its loss and/or supposed improper use.)
We retain the right to refuse acceptance into the press mailing list at our own discretion, to block registration to the press login and to refuse access to and/or the use of the services and content on offer.
Should you prepare a report on the basis of the content provided, we would be very pleased if you would send us a free, specimen example of the publication to the following address or a link via e-mail.
UNIQA Group Communication
Untere Donaustraße 21
We trust that our press service will provide your work with the best possible support and look forward to your report.
Publication of inside information pursuant to Article 17 MAR by euro adhoc with the aim of a Europe-wide dissemination. The issuer is responsible for the content.
THE INFORMATION CONTAINED HEREIN IS NOT INTENDED FOR PUBLICATION OR DISTRIBUTION TO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN.
Vienna, this 2 December 2021
UNIQA Insurance Group AG ("UNIQA" or the "Company") publicly announced on 25 November 2021 that it (i) invites holders of its (a) EUR 350,000,000 Subordinated Fixed to Floating Rate Bonds, ISIN XS0808635436 (the "2023 Notes"), and (b) EUR 500,000,000 Subordinated Fixed to Floating Rate Bonds, ISIN XS1117293107 (the "2026 Notes"; together with the 2023 Notes the "Notes" and each a "Series"), to tender their Notes up to an aggregate maximum principal amount of EUR 300,000,000 or such other amount as the Company may determine in its sole discretion for repurchase by the Company (the "Tender Offer" or the "Repurchase") and, in connection with the intended Repurchase, (ii) intends to issue new subordinated (Tier 2) fixed to floating rate notes in a minimum denomination of EUR 100,000 (the "New Notes") in the same principal amount as Notes repurchased.
Repurchase and placement of the New Notes have been successfully completed today.
The results of the Repurchase, which are higher than the indicative results previously published on 2 December 2021, are as follows (terms used below have the same meaning as in the English language tender offer memorandum prepared by the Company):
Further, UNIQA successfully placed an aggregate principal amount of EUR 375,000,000 New Notes with institutional investors in Austria and abroad. Subject to certain conditions, the New Notes are scheduled to be repaid after expiry of 20 years and can be redeemed early by UNIQA for the first time after ten years. They bear interest at a fixed rate of 2.375 % per year during the first ten years and at a floating interest rate thereafter. The issue price was set at 99.316 % of the par value. The New Notes will be eligible as tier 2 basic own funds in accordance with regulatory requirements.
As a result of the Repurchase being made at a premium above par value UNIQA’s financing costs are expected to increase by approximately 65 million Euro in 2021. Subsequent to the Repurchase and the placement of the New Notes UNIQA expects an average reduction of financing costs of approximately 9 million Euro per annum from 2022 onwards. The headline coupons of the 2023 Notes and 2026 Notes of 6.000% and 6.875% respectively, for the principal amount purchased via the Tender Offer, have been refinanced with the placement of the New Notes with a headline coupon of 2.375%.
Admission of the New Notes to trading on the Official Market (Amtlicher Handel) of the Vienna Stock Exchange will be applied for. Trading of the New Notes is expected to commence on 9 December 2021.
This communication is a mandatory notification under Article 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation).
This communication is for information purposes only and does not constitute an offer to sell or an offer or solicitation to buy or subscribe to securities, nor does it constitute financial analysis or advice or a recommendation relating to financial instruments. The securities have not been and will not be registered under foreign securities laws, in particular not under the U.S. Securities Act of 1933, as amended ("Securities Act") and may not be offered or sold, in particular in the United States of America ("USA"), without registration or exemption from the registration requirements under the Securities Act.
This communication is not intended for distribution in or within the USA, Australia, Canada or Japan or any other country where such distribution or dissemination would be unlawful and may not be distributed or forwarded to publications with a general circulation in the USA. There will be no public offering of securities in the USA.
This communication does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the European Prospectus Regulation (EU) 2017/1129 (the "Prospectus Regulation"). The offer and sale of the New Notes is being made pursuant to an exemption under the Prospectus Regulation from the requirement to produce a prospectus for offers of securities.
A listing prospectus will exclusively be prepared for the purpose of admitting the New Notes to trading on the Official Market of the Vienna Stock Exchange. Once approved by the Austrian Financial Markets Authority, the listing prospectus will be available for download free of charge in electronic form from the issuer's website at https://www.uniqagroup.com/gruppe/versicherung/investor-relations/Anleihen.en.html.
In case or inquiries please contact:
UNIQA Insurance Group AGMichael Oplustil, Investor Relations+43 (0)1 21175 3236 +43 664 email@example.com
UNIQA GroupThe UNIQA Group is one of the leading insurance groups for its core markets of Austria and Central and Eastern Europe (CEE). Around 23,500 employees and exclusive sales partners serve around 15.5 million customers in 18 countries. UNIQA is the second-largest insurance group in Austria with a market share of more than 21 per cent. UNIQA operates in 15 markets in the CEE growth region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Kosovo, Montenegro, Northern Macedonia, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. The UNIQA Group also includes insurance companies in Switzerland and Liechtenstein.
© UNIQA Group 2021