CNP Assurances announces that its new Euro Medium Term Notes (EMTN) programme (the “Programme”) received visa from the Autorité des marchés financiers (AMF) on 21 December 2018. The establishment of the Programme will strengthen CNP Assurances financial flexibility allowing it to seize opportunities on the bond market more rapidly through issuances of subordinated or senior notes, by means of public or private placements and in different currencies. It is fully in line with the Group’s financing strategy aiming at constantly seeking to diversify its investor base, both in terms of geographies and currencies –as evidenced by the bonds it placed in EUR, USD and GBP– and to adapt its capital structure on a regular basis taking into account its growth prospects in Europe and Latin America, Solvency 2 own funds requirements and Moody’s and Standard & Poor’s rating agencies criteria. The €7 billion amount of the Programme is consistent with the current nominal of CNP Assurances’ outstanding subordinated notes. As a reminder, the maximum amount of bonds issues currently authorized by the Board of Directors is €1.5 billion per year1 . The securities to be issued shall be admitted to trading on Euronext Paris. The base prospectus is available on the AMF’s website ( and on CNP Assurances’ website (, heading “Credit Rating and Debt Issuances”).