Viridium Group Sarl (Viridium), Viridium Group’s top holding company, has issued an inaugural EUR 850 million Tier 2 subordinated bond, with a tenor of 10.1 years and a fixed coupon of 4.375%. The offering received strong demand from investors and the final orderbook was more than 3x oversubscribed. The bond is listed on the Euro MTF Market operated by the Luxembourg Stock Exchange.
The bond further enhances Viridium’s capital structure as it provides long-term financing that qualifies as Tier 2 regulatory capital. From a Solvency II perspective, the issuance broadly offsets the capital impact from the newly established ownership structure for Viridium Group.
The issuance followed Viridium’s recent strong investment-grade credit ratings assigned by Fitch, including an ‘A+’ Insurer Financial Strength Rating.
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