CNP Assurances: successful Tier 3 notes issue
(CercleFinance.com) - CNP Assurances has announced a successful bond issue totaling 500 million euros maturing on 8 March 2028 and bearing a fixed interest of 0.
375%, in an issue that was oversubscribed to three times, having been placed with nearly 90 investors.
"The notes qualify as Tier 3 capital under Solvency II. Its cost is the lowest ever paid for hybrid capital by a financial institution in Europe," the insurance company said.
This Tier 3 bond is a less risky instrument for investors than a Tier 2 bond. The issue ensures that the Group has the funds in place for its upcoming debt maturities.
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