Allianz targets institutions with bond issue

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GERMANY - Allianz has started to issue an exchangeable bond through its Dutch finance subsidiary Allianz Finance II B.V, aimed primarily at institutional investors.

Allianz is issuing the new bond to finance the acquisition of Dresdner Bank. The bond has an issue volume of EUR1bn and can be converted into shares of German utility firm RWE. The term is five ye...

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