Paris, 15 January 2016
On 15 January 2016, CNP Assurances completed a $500 million subordinated bond private placement with a major institutional investor. CNP Assurances took advantage of a specific request from the investor. The issue will support the growth and strengthen the Group's balance sheet. This success once again demonstrates the quality of CNP Assurances’ credit.
The fixed for life issue will pay a 6% coupon in dollars which, after swap for euros, is in line with the level of the last notes issued by CNP Assurances in December 2015. The final maturity is 33 years, with a first call date after 13 years.
The issue is structured to be recognized as capital. The notes will be eligible as Tier 2 capital under Solvency 2 standards. According to Standard & Poor’s methodology, the issue is rated BBB+ and qualifies as intermediate equity content capital.
Settlement is scheduled for 22 January 2016.
The prospectus will be available on the following websites: www.cnp.fr and www.amf-france.org.