MEDVIDA has successfully issued €30m of subordinated debt maturing in January 2033 to optimise its capital position and support its growth plans including the acquisition of CNPP Partners and the Metropolis life insurance portfolio.
Through the issue, MEDVIDA welcomes several new international investors as capital providers. The significant interest from the market in the debt placement, despite difficult market conditions, is testament to MEDVIDA’s position as the leading life insurance legacy solutions provider in Spain.
Antonio Trueba, CEO of MEDVIDA, stated that “the successful placement of this first issue demonstrates the long-term support of the markets for MEDVIDA’s innovative business model and its solid solvency and conservative risk management. This reinforces our ability to continue to grow and help insurers to optimise their balance sheets, operations and strategic focus by divesting their non-strategic life business”.
Barclays acted as structuring adviser and bookrunner for the debt issue.