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 20th 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
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 No X
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IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY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.
Record Demand for Allianz Subordinated Bond
Allianz AG has successfully placed a Euro bond with a total volume of 1.5
billion euros. This transaction successfully concludes a series of measures to
strengthen the capital base.
The bond attracted a great deal of interest among domestic and foreign
investors. To meet this demand the volume was increased from the original 1
billion to 1.5 billion euros. The bond has an unlimited maturity and will pay a
fixed coupon of 5.5 percent for the first ten years. Allianz has the right to
redeem the bond after ten years. If it does not exercise the right, the interest
rate will convert to a floating rate with a step-up of 100 basispoints over the
initial credit spread.
The bond was issued under the joint management of Dresdner Kleinwort Wasserstein
and Merrill Lynch. RASFIN, an Italian subsidiary of Allianz, Credit Agricole and
West LB were also involved in the transaction. The issue was announced last
spring within the context of the capital increase and it constituted part of a
long-term plan for strengthening the capital base of Allianz. The high demand
meant that the interest rate was set at the lower end of the price range after a
short bookbuilding phase. Overall demand for the bond amounted to nearly six
billion euros. Standard & Poor`s has assigned a provisional rating of A- and
Moody's of A2.
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 20th 2004