Groupama announced the issue on 9 September 2019 of Euro-denominated Fixed Rate subordinated notes due 2031 placed with institutional investors for a principal amount of EUR 500 million, with an annual coupon of 2.125%. The purpose of this transaction was to take advantage of current supportive market conditions to optimize the group’s capital structure.
Investors showed significant interest in the new notes with the order book around 3 times oversubscribed.
Main terms of the new issue:
Issuer: Groupama Assurances Mutuelles
Expected rating of the notes: BBB by Fitch
Issue amount: €500 million
Pricing date: 9 September 2019
Settlement date: 16 September 2019
Annual coupon: 2.125 per cent.
1st interest payment date: 16 September 2020
ISIN: FR0013447125
BNP Paribas, Citigroup, Crédit Agricole CIB, HSBC, J.P. Morgan (Sole Structuring Advisor) and Natixis 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 internet website (www.groupama.com) and on the website of the Autorité des marchés financiers (www.amf-france.org).
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| Press contact | Analyst and investor contacts |
| Guillaume Fregni – + 33 (0)1 44 56 28 56 guillaume.fregni@groupama.com | Yvette Baudron – +33 (0)1 44 56 72 53 yvette.baudron@groupama.com Valérie Buffard – +33 (0)1 44 56 74 54 valerie.buffard@groupama.com |
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