Pacific Life Insurance Compan is issuing bonds aimed at European individual investors through ABN AMRO’s European Direct Access Notes (EuroDANs) platform.
EuroDANs is a continuously offered corporate bond distribution system designed to provide individual investors with easy access to new investment grade bond issues.
“Complementing our existing institutional note programs, the Pacific Life Funding Retail Notes programme will significantly broaden our international investor base,” says Joe Celentano, Vice President of Accumulation Products of Pacific Life. “ABN AMRO’s EuroDANs platform enables us to access the rapidly expanding European individual investor base.”
Every Monday, issuers on the EuroDANs platform publish their rates, maturities, and structures on www.eurodans.com. The notes can then be purchased by individual investors via commercial banks, private banks, investment managers, and brokers.
To maximise transparency, notes are issued without any accrued interest or hidden fees. Prices are fixed for the five-day offer period and investors receive their full allocations.
The notes are listed on Euronext and are available in a minimum size of EUR 1,000 / GBP 1,000 or any other currency which Pacific Life Funding sees suitable for their funding needs.
“We are delighted to welcome Pacific Life as a new issuer on the EuroDANs programme and are confident there will be good investor demand for such a strong credit,” says Thomas Winkler, Global Head of Private Investor Products at ABN AMRO. “The European individual investor market has exceeded growth expectations over the last 18 months and now includes a total of ten issuers, through various platforms. We expect market volumes will increase to EUR 3 billion by the end of 2005.”
Pacific Life Funding Retail Notes will initially be available to individual investors in the UK, Switzerland, Netherlands, and Germany.