MAPFRE successfully closes a 600 million euro subordinated bond issuance
Mutual fund managers represent the vast majority of the investors that have participated in the placement (78 percent of the total), followed by insurers and pension fund managers (13 percent), financial institutions (6 percent), and central banks and other public organizations (3 percent).
The funds coming from this transaction, which will be disbursed on March 31st, will be used to further strengthen the Group’s financial flexibility, in addition to diversifying its sources of financing.
This issuance is considered to be Solvency II complaint Tier 2 capital, thus reinforcing MAPFRE’s solvency and financial strength levels. The notes will be quoted on the AIAF market, upon authorization from the Spanish Securities and Exchange Commission (CNMV).