It concerns a perpetual bond that is callable by Munich Re from ten years after the date of issue. Up to then, it will have a fixed coupon rate of 5.767% p.a. and thereafter a floating rate.
Under the Changing Gear programme, active capital management is a very important instrument. “We are pleased at the high level of demand for this bond. It impressively underlines the attractiveness of Munich Re on the capital markets”, said Munich Re CFO Jörg Schneider. “The successful placement contributes to our capital management and thus also further optimises our costs of capital.”