Axa issues subordinated bonds for 1.25 billion euros

PARIS (Agefi-Dow Jones) – Axa announced on Thursday that it had carried out an issue of subordinated bonds with institutional investors in the amount of 1.25 billion euros, maturing in 2042. The sum will be used to finance the needs generals of the company, “including the refinancing of part of the existing debts,” said the insurance group in a statement. These subordinated bonds offer an initial fixed coupon of 1.875% per annum until the end of the six-month prepayment period, in July 2032. “Then the coupon will be variable, based on the three-month Euribor rate, with a margin including an interest rate increase of 100 basis points, “Axa said. ([email protected]) ed: LBO

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January 06, 2022 12:31 ET (17:31 GMT)