IMG
Successful €750m Tier 2 notes issue

CNP Assurances has successfully placed €750 million worth of notes due 30 June 2051 and paying interest at 2.5% until 30 June 2031. The notes qualify as Tier 2 capital under Solvency II.

Article also available in : English EN | français FR

The notes were placed with over 100 investors, based mainly in France, the United Kingdom and Ireland, Germany, Austria, Italy, Spain and Switzerland. The order book totalled over €1.2 billion, attesting to their confidence in CNP Assurances’ financial strength. The notes were priced at 265 basis points over the mid-swap rate.

The issue ensures that the Group has the funds in place for its upcoming debt maturities and it also contributes to optimising the balance sheet structure.

The notes are rated BBB+ by Standard & Poor’s and A3 by Moody’s.

Settlement-delivery took place today and the notes have been admitted to trading on Euronext Paris. The final terms of the issue have been published on the Company’s website, www.cnp.fr and on the Autorité des Marchés Financiers’ website, www.amf-france.org.

Next Finance 30 June

Article also available in : English EN | français FR

Tags


Share


Comment

In the same section