The issuance would be done in order to optimize the capital structure of the Group.

Sava Re published a document on the Ljubljana Stock Exchange announcing that they are considering options for issuing subordinated Tier 2 bonds. The mentioned issuance would be done in order to optimize the capital structure of the Sava Insurance Group. The Company notes that they will decide on whether to move forward with the bond issue after examining all market conditions.

The Scheduled Maturity would be 2039, while optional redemption would occur in 2029 and any floating interest payment date thereafter.

As a reminder, as of 31 December 2018, the Group’s eligible own funds to meet the Group Solvency Capital Requirement amount to EUR 471.9m, of which the whole amount refers to Tier 1. As of 31 December 2018, Sava Re stands at solid capitalization levels, with Solvency ratio at 218% (EUR 255.2m).