Athlos Capital Advises on Successful €20 Million Tier 2 Bond Issuance by HD Insurance PLC

Athlos Capital is pleased to announce the successful completion of a €20 million Tier 2 subordinated bond issuance by HD Insurance PLC, one of the fastest-growing general insurance companies, specialising in home and motor insurance, with operations in Cyprus, Greece, and Romania. Athlos Capital acted as the structuring advisor, coordinator of the private placement process, and nominated advisor for the upcoming listing on the Emerging Companies Market of the Cyprus Stock Exchange.

The transaction marks HD Insurance PLC’s debut entry into the capital markets and forms part of its strategic plan to further strengthen its capital base and support its continued growth across all business lines.

The bond has a 10year maturity, carries a fixed annual coupon of 8% for the first 5 years, and includes a call option exercisable by the issuer after 5 years annually thereafter. The issuance was carried out through a private placement to selected professional investors, attracting significant interest from quality institutional and private investors, demonstrating high confidence in HD’s business model and credit profile.

Commenting on the transaction, Eleni Constantinou, CFA, Head of Institutional Solutions at Athlos Capital, stated:

“We are proud to have supported HD Insurance in this landmark transaction—their debut entry into the capital markets. The successful outcome of this issuance reflects both the company’s strong fundamentals and investor appetite for quality subordinated credit in the insurance sector. We would like to thank HD Insurance for entrusting us with the responsibility of structuring and coordinating their first bond issue. Our team worked closely with the Issuer to ensure a seamless execution, from design to private placement, and now towards listing on the ECM of the CSE. We believe this transaction sets a benchmark for other firms seeking to diversify their capital base and engage institutional investors in Cyprus and abroad.”

“We are delighted by the overwhelmingly positive response,” commented Alexis Pantazis, Co-Founder and Executive Director of Hellas Direct. “The oversubscription reflects strong confidence in our innovative, digital-first business model and our prudent capital management. This Tier 2 issuance not only reinforces our regulatory capital position but also positions us for accelerated growth across all markets we serve.”

 “By listing the bonds on the Cyprus Stock Exchange, we deepen our ties to the local institutional investor base,” added Emilios Markou, Co-Founder and Executive Director of Hellas Direct. “The proceeds will enable us to continue growing at an even faster pace than we currently are, while enhancing our AI-driven underwriting engine, expanding our product suite, particularly in motor and home lines, and further automating our claims-handling platform.”