Successful inaugural hybrid bond issuance of the Baloise Group

Basel, September 12, 2017. The Baloise Group successfully placed an inaugural CHF 500 million hybrid bond issued by Baloise Life Ltd and guaranteed on a subordinated basis by Bâloise Holding Ltd.

Following very positive feedback from investor meetings last week, the Baloise Group successfully placed a CHF 300 million perpetual subordinated bond, first callable in June 2023 (coupon until first call date: 1.75%) and a CHF 200 million dated subordinated bond with final maturity in 2048, first callable in June 2028 (coupon until first call date: 2.20%).

Both tranches are issued by Baloise Life Ltd and are guaranteed on a subordinated basis by Bâloise Holding Ltd. The instruments will be rated "BBB+" by Standard & Poor’s. S&P moved Baloise Group's rated entities onto positive outlook on 1st September 2017.  This includes the issuing entity Baloise Lift Ltd which currently has a rating of “A”.

Carsten Stolz, Group Chief Financial Officer, said: "The debut hybrid offering represents an important step for the Baloise Group. It allows us to further optimize our capital structure with regards to our financial and strategic objectives. We are delighted to have received such a positive investor response to our debut offering ".

The proceeds from the offering will be used for general corporate purposes, including the refinancing of outstanding debt instruments as well as the financing of the ongoing share buyback program. The bond will be listed on the SIX Swiss Exchange. UBS acted as Sole Structuring Advisor and Sole Bookrunner on the offering with Credit Suisse, UBS and Zurich Cantonal Bank acting as Joint Lead Managers and Basler Kantonalbank acting as Co-Manager.

Contact

Portrait Roberto Brunazzi

Roberto Brunazzi

Head of Media Relations

Phone

+41 58 285 82 14

Email

media.relations@baloise.com
Portrait Marc Kaiser

Marc Kaiser

Head of Corporate Communications & Investor Relations

Phone

+41 58 285 81 81

Email

marc.kaiser@baloise.com

The Baloise Group is more than just a traditional insurance company. The changing security, safety and service needs of society in the digital age lie at the heart of its business activities. The 7,700 or so employees of Baloise therefore focus on the wishes of their customers. The best possible customer service, combined with innovative products and services, makes Baloise the first choice for people who want to feel ‘simply safe’. Located at the heart of Europe, with its head office in Basel, the Baloise Group is a provider of prevention, pension, assistance and insurance solutions. Its core markets are Switzerland, Germany, Belgium and Luxembourg. In Switzerland, with Baloise Bank SoBa, the Group also operates as a specialised financial services provider, offering a combination of insurance and banking services. The Group offers innovative pension products to retail customers throughout Europe from its competence centre in Luxembourg. Bâloise Holding Ltd shares are listed in the main segment of the SIX Swiss Exchange.

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