This page offers information on Mandatum’s debt instruments and credit ratings.
Mandatum Group's indebtedness as at 31 December 2023
|
EUR million |
31 December 2023 |
|
Financial debt |
351.1 |
|
Shareholder equity |
1 599.9 |
|
CSM+RA, net of tax |
408.0 |
|
Debt ratio |
14.9% |
Mandatum Life Insurance Company Limited (Finland)
|
Debt instrument |
€ 300,000,000, 4.5 per cent. 15.25NC5.25 Fixed/floating rate dated subordinated notes due 4 December 2039. Issue Price 99.963 per cent. |
|
Status of the notes |
Subordinated, Solvency II Tier 2 Notes |
|
Issue date |
4 Sep 2024 |
|
First call date |
4 Sep 2029 |
|
Interest reset date |
4 Dec 2029 |
|
Interest after reset date |
3-month Euribor + Margin 205 (Re-offer Spread) until 4/12/2034 (year 10). Thereafter 3-month Euribor + Margin 305 (Re-offer Spread plus Step-up 100 bps). |
|
Final maturity |
4 Dec 2039 |
|
Listing |
Euronext Dublin (GEM) |
|
Documents |
Listing Particulars including Terms and Conditions of the Notes 2 Sep 2024 |
|
Issue ratings |
Original: BBB+ (Stable outlook) by S&P |
In the partial demerger of Sampo plc (see more information here), a part of Sampo plc’s general liabilities that were not allocated to any specific business operations (being certain debt instruments), were allocated to Mandatum plc on the basis of the value of the assets transferring to Mandatum plc and the value of the assets remaining with Sampo plc on the effective date of the demerger. Considering that such debt instruments could not be transferred as such due to their nature, an equivalent debt relationship, with equal terms, was formed between Sampo plc and Mandatum plc. Below is the summary of such Mandatum plc’s financial debt:
|
Original instrument |
Nominal, EURm |
Coupon, % |
Maturity |
|
Senior Bond |
11.2 |
1.250 |
30 May 2025 |
|
Senior Bond |
21.7 |
1.625 |
21 Feb 2028 |
|
Senior Bond (original loan NOK denominated) |
69.4 NOKm |
3.100 |
7 Sep 2028 |
|
Hybrid Tier 2 Bond |
34.7 |
3.375 |
23 May 2049* |
|
Senior Bond |
27.9 |
2.250 |
27 Sep 2030 |
|
Private placement |
0.3 |
|
|
*First call date 23 May 2029
Disclaimer:
The documents posted on this website under the title "Outstanding Issues" constitute a document library and relate to securities previously offered, sold and delivered. All of the securities referred to on this website have been sold. The inclusion of the documents does not constitute an offer of securities in the United States or in any other country.
Any information or opinions contained in the documents are not intended either for distribution or use by any person in any jurisdiction or country where such distribution or use would be unlawful. No securities may be offered, sold or delivered in the United States unless they have been registered under the U.S. Securities Act of 1933 or an exemption from the registration requirements of this Act is available. None of the securities referred to on this website have been or will be registered under the U.S. Securities Act of 1933 and under no circumstance do the documents constitute a solicitation or an offer to buy the securities of Mandatum plc or any of its subsidiaries, nor do the documents constitute a "Prospectus" under the United States Securities Act of 1933.
The documents posted on this website contain extracts from the originally published offer documents only, and relate specifically to the terms and conditions governing the relevant securities. Mandatum plc and its affiliated companies do not assume liability for any possible damage as a result of a discrepancy between the text of the documents as posted on this website and the text of the originally published offering documents in hard copy.
You are also reminded that documents posted on this website will not be updated after the date of the release of the documents and therefore the documents might now be outdated. Neither Mandatum plc nor any of its respective affiliates, directors, officers, employees or agents accepts any liability or responsibility whatsoever in respect of any difference between the documents distributed to you and the current information made available to you by Mandatum plc from time to time. On this website visitors may obtain financial and business information on Mandatum Group in different sections. No guarantee or statement is given by Mandatum plc or any of its affiliated companies regarding the correctness or completeness of this information.
The documents are provided for information purposes only. Mandatum plc, its directors, officers or employees accept no liability for any damages or losses arising from the use of this site or its contents.
Issuer credit rating
|
Period |
S&P, rating |
S&P, outlook |
|
Q4/2023 |
BBB+ |
Stable |
|
Period |
S&P, rating |
S&P, outlook |
|
Q4/2023 |
A |
Stable |
|
Q3/2023 |
A |
Stable |
|
Q2/2023 |
A |
Stable |
|
Q1/2023 |
A+ |
Negative |
|
Q4/2022 |
AA- |
Stable |
|
Q3/2022 |
AA- |
Stable |
|
Q2/2022 |
AA- |
Stable |
|
Q1/2022 |
A+ |
Positive |
|
Q4/2021 |
A+ |
Positive |
|
Q3/2021 |
A+ |
Positive |
|
Q2/2021 |
A+ |
Stable |
|
Q1/2021 |
A+ |
Stable |
|
Q4/2020 |
A+ |
Stable |
|
Q3/2020 |
A+ |
Stable |
|
Q2/2020 |
A+ |
Stable |
|
Q1/2020 |
A+ |
Stable |
|
Q4/2019 |
A+ |
Stable |
|
Q3/2019 |
A+ |
Stable |
Further information on rating definitions etc. can be found on the websites of the rating agencies: