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Corporate news
11 February 2016

  • Talanx is financing the construction, refurbishment and maintenance of seven court buildings in Ireland
  • Long-term external funding volume of around EUR 145 million in total which was structured by Talanx and Mitsubishi UFJ Financial Group (MUFG)
  • Subscription volume from Talanx and MUFG comprises approx. EUR 73 million each

With its financing of the Irish public-private partnership (PPP) project "Courts Bundle PPP", Talanx has made a further external funding investment in the area of infrastructure. The insurance group is participating as a co-investor with a volume of around EUR 73 million in the construction, refurbishment and maintenance of seven court buildings in Ireland along with MUFG who also contributed an investment in the amount of some EUR 73 million as well as short-term facilities.

"As a long-term investor, Talanx is the ideal partner for projects like PPPs that traditionally run for long periods", says Dr. Thomas Mann, Chief Investment Officer at Talanx Asset Management. "With this investment, we are once again displaying our expertise in participating in the structuring and implementation of large-volume transactions and once again tapping into returns that appreciably outstrip the current interest rate on 30-year German government bonds."
The Courts Bundle project of the Irish National Development Finance Agency (NDFA) and the Dutch BAM PPP is Talanx' first investment in a PPP project. The financing has a term of 26.5 years.
This is Talanx' second external funding investment in the area of infrastructure. In September 2015, Talanx, acting as consortium manager for several institutional investors, arranged financing for the offshore wind farm, Gode Wind 1. For this, the insurer coordinated a bond with a volume of EUR 556 million. Talanx subscribed to about EUR 300 million of the 10-year bond.

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Disclaimer
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

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Andreas Krosta

Head of Group Communications
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