(CercleFinance.com) – CNP Assurances announces that it has successfully finalized its first Tier 3 subordinated issue of the year for an amount of 500 million euros. These are seven-year bonds bearing interest at a fixed rate of 1.25% until January 27, 2029.
The bond was placed with more than 90 investors, and oversubscribed more than 2.2 times with a total order book of 1.1 billion euros ‘testifying to the confidence of investors in the financial solidity of CNP Assurances ‘.
“This issue allows the CNP Assurances group to prepare for the next bond maturities while maintaining financial flexibility for subordinated debt issues,” explains the insurer.
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