Aktia Life Insurance issued inaugural Tier 2 Transaction of EUR 56 million
Aktia Life Insurance Ltd, a wholly owned subsidiary of Aktia Bank Plc, issued inaugural Solvency eligible Tier 2 Transaction of EUR 56 million on Friday 19 November 2021. The purpose of the Transaction is to further support the capital structure and solvency ratio of Aktia Life Insurance. Aktia Life Insurance is unrated entity.
The unrated and unlisted transaction required high number of investors to be canvassed and investor engagement followed through a Global Investor Call and several one-on-one meetings. After three days intensive investor work, Aktia Life Insurance opened the books on Friday 19 November 2021 and gathered high quality and diverse range of Nordic and Central European investors in the final book.
Danske Bank A/S was the sole lead and Structural Advisor of the 3%, EUR 56 million, 10nc5 transaction. The transaction size fulfilled the maximum capacity of T2 capital in Aktia Life Insurance current capital structure.
Aktia Bank Plc
Outi Henriksson, CFO, tel. +358 10 247 6236
Timo Ruotsalainen, Head of Treasury, tel. +358 10 247 7211
Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 900 people around Finland. Aktia's assets under management (AuM) on 30 June 2021 amounted to EUR 15.6 billion, and the balance sheet total was EUR 11.2 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.