S&C Advises Allianz SE on Concurrent Regulatory Capital Offering and Cash Tender Offer

Allianz SE (Allianz) completed an issuance of $1.25 billion 6.55% Perpetual Fixed Rate Resettable Restricted Tier 1 Notes pursuant to Rule 144A and Regulation S under the U.S. Securities Act. The notes qualify under Solvency II regulatory capital requirements applicable to European insurance companies.

Concurrent with the notes offering, Allianz announced a cash tender offer for its $1.25 billion 3.5% Perpetual Fixed Rate Resettable Restricted Tier 1 Notes, which had been issued in 2020 pursuant to Rule 144A and Regulation S under the U.S. Securities Act. The tender offer cap was raised from $1.0 billion to $1.25 billion after pricing of the new regulatory capital offering.

Allianz is headquartered in Munich, Germany. Allianz Group is one of the world's leading insurers and asset managers with private and corporate customers in almost 70 countries.

The S&C team that advised Allianz on U.S. securities law matters included Evan Simpson, Costanza Posarelli, Ting Ruan and Jean Polanun.