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Business news in Slovenia

Insurer Triglav issues EUR 100m subordinated bond

Ljubljana, 09 July (STA) - Zavarovalnica Triglav, Slovenia's largest insurer, has completed the issue of a 20.5-year subordinated bond worth EUR 100 million. The issue is part of "regular capital management activities", the company said on Tuesday.

The bond was sold to institutional investors and has a yield of 6.75%. It will be admitted to trading on the regulated market of the Luxembourg Stock Exchange.

Until the first reset date, the bond carries a fixed annual interest rate of 6.70%, with the coupon payable annually.

After the first reset date, the interest rate becomes variable, and the coupon is paid quarterly.

"The success of this issue further confirms the high level of confidence that institutional investors have in the group," the company said in a press release.

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