✨ Allianz Acquires $750M in MicroStrategy Notes
posted 22 Nov 2024
In a transaction valued at $750 million, Allianz, a leading German insurance company, secured 25% of MicroStrategy notes via four subsidiaries. The news was reported by Cointelegraph on November 22.
An additional $78.75 million early purchase option was offered within 13 days of the press release, increasing the total note issuance to $603.75 million.
With $750 million worth of MicroStrategy notes in its portfolio, Allianz has emerged as the largest holder of these assets, surpassing BlackRock, which holds a modest 0.98% of the total note issuance.
Allianz secured the notes through four subsidiaries: Allianz Global Investors Luxembourg (14.34%), Allianz Global Investors of America LP (6.64%), Nicholas Applegate Capital Management Inc. (3.74%), and Allianz Global Investors GmbH (0.04%).
This acquisition has been met with optimism in the community, hinting at improving relations between institutional investors and the cryptocurrency space.
Key MicroStrategy Noteholders. Source: bloomberg.com
Issued in March 2024, these MicroStrategy notes were valued at $525 million and are scheduled to mature on March 15, 2031. The issuance took place as a private offering limited to qualified institutional buyers under Rule 144A of the Securities Act.
An additional $78.75 million early purchase option was offered within 13 days of the press release, increasing the total note issuance to $603.75 million.
With $750 million worth of MicroStrategy notes in its portfolio, Allianz has emerged as the largest holder of these assets, surpassing BlackRock, which holds a modest 0.98% of the total note issuance.
Allianz secured the notes through four subsidiaries: Allianz Global Investors Luxembourg (14.34%), Allianz Global Investors of America LP (6.64%), Nicholas Applegate Capital Management Inc. (3.74%), and Allianz Global Investors GmbH (0.04%).
This acquisition has been met with optimism in the community, hinting at improving relations between institutional investors and the cryptocurrency space.
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