On the 9th of November 2026, CNP Assurances has successfully completed a Tier 2 subordinated issue, placing €500 million worth of thirty-and-a-half-year notes callable at the issuer’s option starting from 10.5 years, and bearing interest at a fixed rate of de 5.375 %, until May 17, 2037. The notes qualify as Tier 2 capital under Solvency II.
The notes were placed with more than 85 investors, 63% of whom were asset managers, 24% insurers and pension funds and 6% private banks, based in France (42%), UK/Ireland (20%), Germany/Austria/Switzerland (15%), Northern Europe (8%), Benelux (6%), and other countries (9%).
The issue was 3 times oversubscribed with a total order book of €1.5 billion, attesting to investor confidence in CNP Assurances' financial strength.
The notes are rated BBB+ by Standard & Poor’s and A3 by Moody’s.
This issuance will ensure that CNP Assurances has the funds in place to meet its upcoming debt maturities.
Settlement is scheduled for 17th November 2026. The final terms will be available on the cnp.fr website and on the website of France’s securities regulator (AMF).