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.


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