Groupama has successfully issued a new perpetual subordinated debt of EUR 600 million
July 10 2024 - 4:25AM
UK Regulatory
Groupama has successfully issued a new perpetual subordinated debt
of EUR 600 million
Groupama announced the issue on 9 July 2024
of fixed rate Restricted Tier1 perpetual notes subscribed by
institutional investors for an amount of EUR 600 million, with an
annual coupon of 6.5%. The purpose of this transaction was to take
advantage of the current supportive market conditions to optimize
the group’s capital structure.
Investors showed significant interest in the new
notes with the order book being more than 5 times
oversubscribed.
The main terms of the new issue are the
following:
Issuer: Groupama Assurances Mutuelles
Rating of the notes: BBB by Fitch
Issue amount: EUR 600 million
Pricing date: 9 July 2024
Settlement date: 16 July 2024
Annual coupon: 6.5 per cent.
ISIN: FR001400QR21
J.P. Morgan (Global Co-coordinator), Natixis
(Global Co-coordinator), BNP Paribas, Citigroup, Crédit Agricole
CIB and HSBC acted as joint bookrunners on the transaction. The new
notes will be admitted to trading on Euronext Paris.
The prospectus of the new notes will be available on the group’s
website (www.groupama.com) and the website of the Autorité des
marchés financiers (www.amf-france.org).
Press contact |
Analyst and investor contact |
Safia Bouda – + 33 (0)6 02 04 48 63
safia.bouda@groupama.com
|
Valérie Buffard – +33 (0)6 70 04 12 38
valerie.buffard@groupama.com
|
About Groupama Group
For more than 100 years, Groupama Group has based its actions
on timeless, humanist values to enable as many people as possible
to build their lives in confidence. It relies on humane, caring,
optimistic and responsible communities. The Groupama Group, one of
the leading mutual insurers in France, carries out its insurance
and service business activities in ten countries. The Group has 12
million members and customers and 31,000 employees throughout the
world, with premium income of €17.0 billion.
- 2024_07 PR Groupama_RT1subordinated notes
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