CNP Assurances successfully completed its first issue of Tier 2 subordinated notes under the EMTN programme set up in December 2018.

These €500m dated 10 years bullet notes bear a 2.75% fixed rate. This is the lowest fixed coupon paid by CNP Assurances for a Tier 2 subordinated note.

The notes are rated BBB+ by Standard & Poor’s and A3 by Moody’s.

This issuance will allow CNP Assurances to prepare next call dates and to optimize its capital structure, while maintaining its financial flexibility to issue Restricted Tier 1, Tier 2 and Tier 3 subordinated notes. The proceeds of the notes will be eligible for inclusion in Solvency II regulatory capital.

More than 6 times oversubscribed, the issue was quickly placed with around 220 institutional European and Asian investors on 25 January 2019. Its success confirms the confidence of bond investors in the solidity of the CNP Assurances Group.

The settlement of the notes, which will be admitted to trading on Euronext Paris, will take place on 5 February 2019.

The EMTN programme base prospectus is available for download from the Company's website The final terms of this transaction will be shortly available for download from the Company's website and the website of the AMF (Autorité des Marchés Financiers).