Powered by

CNP Assurances places 750M of notes

Jul 02, 2020 - SNL European Financials Daily

The order book amounted to more than 1.2 billion and the notes were priced at 265 basis points over midswaps.

CNP Assurances SA placed 750 million of notes due June 30, 2051.

The securities, which qualify as Tier 2 capital under Solvency II, will bear interest at 2.5% until June 30, 2031.

The order book amounted to more than 1.2 billion and the notes were priced at 265 basis points over midswaps. Proceeds will be used to service upcoming debt maturities and help optimize the...