CNP Assurances: E500m bond issue
(CercleFinance.com) - CNP Assurances has successfully issued a Tier 2 subordinated debt totaling E500m on 10 July 2024.
The bonds have a 30-year maturity, callable at the issuer's option from 9.5 years, and bear interest at a fixed rate of 4.875% until 16 July 2034.
The bond was placed with over 110 investors, including 62% asset management companies, 24% insurers and pension funds, and 9% private banks.
The issue was oversubscribed to more than 4.4 times, with a final order book of E2.2bn, testifying to investors' confidence in CNP Assurances' financial strength.
The securities are rated BBB+ by Standard & Poor's and A3 by Moody's. This issue enables CNP Assurances to prepare for future bond maturities.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The bonds have a 30-year maturity, callable at the issuer's option from 9.5 years, and bear interest at a fixed rate of 4.875% until 16 July 2034.
The bond was placed with over 110 investors, including 62% asset management companies, 24% insurers and pension funds, and 9% private banks.
The issue was oversubscribed to more than 4.4 times, with a final order book of E2.2bn, testifying to investors' confidence in CNP Assurances' financial strength.
The securities are rated BBB+ by Standard & Poor's and A3 by Moody's. This issue enables CNP Assurances to prepare for future bond maturities.
Copyright (c) 2024 CercleFinance.com. All rights reserved.