CNP Assurances placed € 750 millions worth of subordinated notes due
September 14, 2040 with an initial early redemption option at par on September
The issue was placed on the institutional market and was twice
The notes will pay interest at a fixed rate of 6% representing an
initial spread of 347,2 basis points. From 2020, they will pay interest at a
variable rate with a 100-basis point step-up.
The settlement date is scheduled for September 14,
The notes have been rated A by Standard & Poor’s using the
methodology applicable to subordinated debt.
The issue has been structured so that the notes are eligible for
inclusion in solvency capital under insurance regulations and Standard &
Poor’s rating rules, within the respective limits. They also comply with the
latest guidance concerning Solvency II Tier 2 capital.
The purpose of the issue is to support the development of CNP
Assurances’s business. The issue’s success is further confirmation of French and
international investors’ interest in the Group and their confidence in its
Copies of the prospectus approved by the Autorités des Marchés
Financiers (AMF) under visa no.
10-314 can be obtained free of charge from CNP Assurances, 4 place Raoul Dautry,
75716 Paris Cedex 15, France. It can also be downloaded from the Company’s
website www.cnp.fr and the AMF website www.amf-france.org.
Disclaimer: Some of the statements contained in this press release may be
forward-looking statements referring to
projections, future events, trends or objectives which, by their very nature,
involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated
in such statements by reason of factors such as changes in general economic
conditions and conditions in the financial markets, legal or regulatory
decisions or changes, changes in the frequency and amount of insured claims,
particularly as a result of changes in mortality and morbidity rates, changes in
surrender rates, interest rates, foreign exchange rates, the competitive
environment, the policies of foreign central banks or governments, legal
proceedings, the effects of acquisitions and the integration of newly-acquired
businesses, and general factors affecting competition.
Further information regarding factors which may cause results to
differ materially from those projected in forward looking statements is included
in CNP Assurances’ filings with the Autorité des Marchés Financiers. CNP Assurances does not undertake to update any
forward-looking statements presented herein to take into account any new
information, future event or other factors.
Distribution of this press release may be restricted in some
countries. Any person in possession of this press release should inform
themselves about and comply with any local restrictions.
This press release and the information it contains do not constitute
an offer to sell or subscribe, or a solicitation of an order to buy or subscribe
the notes in any country, particularly the United
Investor and Analyst Relations
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Dated subordinated note 2040 prospectus