CNP Assurances: placement of perpetual notes

(CercleFinance.com) - CNP Assurances has announced the successful issue of its inaugural subordinated Restricted Tier 1 notes, bearing interest at a fixed rate of 4.
75% until the first optional redemption on 27 June 2028.

This issue will enable CNP Assurances to prepare for forthcoming bond maturities and optimise its capital structure, while maintaining financial leeway to issue Restricted Tier 1, Tier 2, and Tier 3 subordinated bonds.

More than three times oversubscribed to, the issue was quickly placed on 20 June with 110 institutional investors. This transaction is currently the largest Restricted Tier 1 subordinated issue in euros of a European insurance company.


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