Financing mix ensures continued solid capitalisation
The purchase price for the stake acquired by Helvetia amounts to around EUR 800 million. Helvetia has financed two thirds of the acquisition through the issue of a hybrid bond and one third through the issue of new shares. This financing mix will allow for efficient capital management and contribute to ensuring a balanced capital base. For example, the SST ratio still remains within the strategic target range of 180% to 240%.
Successful strategy of Caser being continued
Caser will continue to operate with its existing, excellently established brand on the Spanish market. 'With this acquisition, Helvetia is strengthening the European business, its second strong pillar alongside the Swiss home market. High investor demand for the recent capital increase and the placement of a hybrid bond underlines the trust people have in our successful strategy', explains Philipp Gmür, Group CEO of Helvetia.
This media release is also available on our website www.helvetia.com/media.
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Helvetia Holding AG published this content on 26 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2020 09:08:01 UTC