By Ben Edwards

German insurance and financial services group Allianz SE (ALV.XE) is planning a benchmark-size, euro-denominated, 30-year subordinated bond, one of the banks running the deal said Tuesday.

Initial price thoughts are 412.5 basis points over midswaps.

Citigroup Inc., Commerzbank AG, HSBC Holdings PLC and Societe Generale SA are the lead managers of the sale.

Write to Ben Edwards at ben.edwards@dowjones.com