SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For February 13th 2004
Commission File Number: 1-15154
ALLIANZ AKTIENGESELLSCHAFT
Koeniginstrasse 28
80802 Munich
Germany
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F X
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes X No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN THE
REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-13462) OF ALLIANZ
AKTIENGESELLSCHAFT AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT
IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY
FILED OR FURNISHED.
Allianz Announces Subordinated Bond
Allianz AG is planning to issue a euro bond of 1 billion Euros
This transaction marks another step in a series of successful capital markets
transactions by Allianz, who announced its intention to issue more hybrid
capital when implementing the capital increase in spring 2003.
The joint bookrunners on the issue will be DrKW and Merrill Lynch. The bond will
be perpetual, with a first par call at the option of the issuer after ten years.
In the event of a non-call the fixed rate of interest payable during the initial
ten years will convert to a variable rate and will step up by 100 basis points
over the initial credit spread.
Bookbuilding, launch and pricing will happen next week following a European
roadshow, subject to market conditions.
"The historically low interest environment combined with the high market
liquidity provide an excellent opportunity for us to refinance short-term by
long-term debt at attractive conditions. In addition, this step allows us to
further enhance our capital base", says Stephan Theissing, Head of Corporate
Finance of Allianz AG.
Munich, February 13, 2004
These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements
Certain of the statements contained herein may be statements of future
expectations and other forward-looking statements that are based on management's
current views and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or events to differ
materially from those expressed or implied in such statements. In addition to
statements which are forward-looking by reason of context, the words `may, will,
should, expects, plans, intends, anticipates, believes, estimates, predicts,
potential, or continue' and similar expressions identify forward-looking
statements. Actual results, performance or events may differ materially from
those in such statements due to, without limitation, (i) general economic
conditions, including in particular economic conditions in the Allianz Group's
core business and core markets, (ii) performance of financial markets, including
emerging markets, (iii) the frequency and severity of insured loss events, (iv)
mortality and morbidity levels and trends, (v) persistency levels, (vi) the
extent of credit defaults (vii) interest rate levels, (viii) currency exchange
rates including the Euro-U.S. dollar exchange rate, (ix) changing levels of
competition, (x) changes in laws and regulations, including monetary convergence
and the European Monetary Union, (xi) changes in the policies of central banks
and/or foreign governments, (xii) the impact of acquisitions, including related
integration issues, (xiii) reorganization measures and (xiv) general competitive
factors, in each case on a local, regional, national and/or global basis. Many
of these factors may be more likely to occur, or more pronounced, as a result of
terrorist activities and their consequences. The matters discussed herein may
also involve risks and uncertainties described from time to time in Allianz AG's
filings with the U.S. Securities and Exchange Commission. The company assumes no
obligation to update any forward-looking statement.
No duty to update
The company assumes no obligation to update any information contained herein.
No offer
This statement does not constitute an offer or invitation to subscribe for or
purchase any securities. The securities of Allianz Aktiengesellschaft that will
be offered outside the United States as described herein have not been and will
not be registered under the United States Securities Laws and may not be
offered, sold or delivered within the United States or to U.S. persons absent
registration under or an applicable exemption from the registration requirements
of the United States Securities Laws.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ALLIANZ AKTIENGESELLSCHAFT
By: /s/ Dr. Reinhard Preusche
----------------------------
Dr. Reinhard Preusche
Group Compliance
By: /s/ Dr. Giovanni Salerno
----------------------------
Dr. Giovanni Salerno
Group Compliance
Date: February 13th 2004