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Allianz SE - Tender Offer - Launch (DE)

Allianz SE announces a Tender Offer in respect of its EUR 1,500,000,000 Undated Subordinated Fixed to Floating Rate Notes (ISIN: DE000A1YCQ29) (the "Notes") and proposed issue of new euro-denominated dated subordinated fixed to floating rate notes by Allianz SE (the "New Notes")


26 MAY 2023


Full announcement available via Luxse


"26 May 2023. Allianz SE (the "Company") announces today an invitation to eligible holders of its outstanding

EUR 1,500,000,000 Undated Subordinated Fixed to Floating Rate Notes (ISIN: DE000A1YCQ29) to tender any and all

such Notes for purchase by the Company for cash subject to the satisfaction or waiver of the New Financing Condition (as defined below) and the other conditions described in the Tender Offer Memorandum, and subject to the Settlement Condition being fulfilled on the Settlement Date (the "Offer")."


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"Summary of the Offer

Rationale for the Offer


The Company announced on 26 May 2023 its intention to issue a new series of euro-denominated dated subordinated fixed to floating rate notes (the "New Notes"), subject to market conditions.


This refinancing exercise, comprising the intended issuance and the Offer, is part of the Company's proactive management of its financing structure. The Offer provides Noteholders with the opportunity to sell their current holdings in the Notes ahead of their first call date and to subscribe to the issuance of the New Notes, as more fully described in the Tender Offer Memorandum.


Notes purchased by the Company pursuant to the Offer are expected to be cancelled and will not be re-issued or re-sold."


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