AXA: 2 billion euro note issue
(CercleFinance.com) - AXA announced last night that it has successfully placed with institutional investors a Reg S subordinated note issue totalling 2 billion euros, due in 2049.
The net proceeds of the bond issue will be used to partly finance AXA's acquisition of XL Group Ltd.
The initial coupon has been set at 3.25% per annum. It will be fixed until the first call date in May 2029 and floating thereafter with a margin including a 100 basis points step-up.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The net proceeds of the bond issue will be used to partly finance AXA's acquisition of XL Group Ltd.
The initial coupon has been set at 3.25% per annum. It will be fixed until the first call date in May 2029 and floating thereafter with a margin including a 100 basis points step-up.
Copyright (c) 2018 CercleFinance.com. All rights reserved.