AXA (EPA:CS) - AXA announced the successful placement of Euro 1 billion of subordinated green bonds due 2041

Transparency directive : regulatory news

01/04/2021 17:55

Press release

Paris, April 1, 2021

AXA announced the successful placement of Euro 1 billion of subordinated green
bonds due 2041

AXA announced today the successful placement of its first subordinated green
bonds, which will be issued under AXA Group's newly established Sustainability
Bond Framework.

"AXA was amongthe first companies in the finance industry to adopt an ambitious
climatestrategy and we are committed to accelerate our actions towards a
low-carbon economy. With the recent publication of AXA's Sustainability Bond
Framework and with the issuance of our first green bond, we continue with our
peers to set new standards for climate finance and to contribute to the ongoing
growth of this asset class" said Alban de Mailly Nesle, Chief Risk and
Investment Officer of AXA.

In 2019, AXA launched a new phase of its climate strategy and doubled its green
investment target to Euro 24 billion by 2023. With this issuance, the
Groupfurther increases this target by Euro 1 billion to Euro 25 billion.

An amount equivalent to the proceeds of the green bond issuance will be
exclusively used to finance or re- finance eligible Green Projects in the
following eligible Green Categories: Green Buildings, Renewable Energy, Clean
Transportation, Energy Efficiency and Natural Resources / Sustainable Forestry,
as set out and definedin AXA Group's Sustainability Bond Framework.

Sustainalytics has provided a second party opinionon AXA Group's Sustainability
Bond Framework, available on www.axa.com. In line with the green bond market
standards (ICMA's Green Bond Principles), AXA will publish an allocation and
impact report annually to track the financing of Green Projects and their
associated positive environmental impacts.

Financial conditions

This issuance is consistent with the Group's expectations for debtgearing over
its 2020 - 2023 strategic plan, as communicated at AXA's 2020 Investor Day.

This first green subordinated bond issuance to institutional investors is due
2041. The initial fixed coupon has been set at 1.375% per annum until the end
of the 6-month call window period (October 2031), when it will become a
floating coupon based on 3-month EURIBOR plus a margin including a 100 basis
points step up.

Investor demand was strong with more than 100 institutional investors
participating, mainly asset managers, insurers and pension
fundsessentiallyacross Europe.

The bonds will be treated as capital from a regulatory and rating agencies'
perspective within applicablelimits. The transaction has been structuredfor the
bonds to be eligible as Tier 2 capital under Solvency II.

The bonds are expected to be rated BBB+/Stable by Standard & Poor's,
A3(hyb)/Stable by Moody's and BBB/Stable by Fitch. Settlement of the bondsis
expected to take place on April 7, 2021.

ABOUT THE AXA GROUP

The AXA Group is a worldwide leader in insurance and asset management, with
153,000 empl oyees serving 105 million clients in 54 countries. In 2020, IFRS
revenues amounted to Euro 96.7 billion and underlying earnings to Euro 4.3
billion. AXA had Euro 1,032 billion in assets under management as of December
31, 2020.
The AXA ordinary share is listed on  compartment A of Euronext Paris under the
ticker symbol CS (ISN FR 0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA).
AXA's American Depository Share is also quoted on the OTC QX platform under the
ticker symbol AXAHY.
The AXA Group is included in the main international SRI indexes, such as Dow
Jones Sustainability Index (DJSI) and FTSE4GOOD.
It is a founding member of the UN Environment Programme's Finance Initiative
(UNEP FI) Principles for Sustainable Insurance and a signatory of the UN
Principles for Responsible Investment.
This press release and the regulated information made public by AXA pursuant to
article L. 451-1-2 of the French Monetary and Financial Code and articles 222-1
et seq. of the Autorité des marchés financiers' General Regulation are
available on the AXA Group website (axa.com).

THIS PRESS RELEASE IS AVAILABLE ON THE AXA GROUP WEBSITE axa.com

FOR MORE INFORMATION:
Investor Relations:     +33.1.40.75.48.42
Andrew Wallace-Barnett: +33.1.40.75.46.85
François Boissin:       +33.1.40.75.39.82
Aayush Poddar:          +33.1.40.75.59.17
Mikaël Malaganne:       +33.1.40.75.73.07
Mathias Schvallinger:   +33.1.40.75.39.20
Shuqi Ye:               +33.1.40.75.58.44

Individual Shareholder Relations:
                        +33.1.40.75.48.43

Media Relations:        +33.1.40.75.46.74
Julien Parot:           +33.1.40.75.59.80
Farah El Mamoune:       +33.1.40.75.46.68
Jonathan Deslandes:     +33.1.40.75.97.24
Sarah Andersen:         +33.1.40.75.71.97

Corporate Responsibility strategy:
axa.com/en/about-us/strategy-commitments

SRI ratings:
axa.com/en/investor/sri-ratings-ethical-indexes

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING
FORWARD-LOOKING STATEMENTS
Certain statementscontained hereinmay be forward-looking statements including,
but not limited to, statements that are predictions of or indicate future
events, trends, plans, expectations  or objectives. Undue reliance should not
be placedon suchstatementsbecause, by their nature, they are subject toknown
and unknown risks and uncertaintiesand can  be affectedby  other factorsthat
could  c ause AXA's actual resultstodiffer materially from those expressed or
implied in suchforward looking statements. Please refer to Part 5 - "Risk
Factors and Risk Management" of AXA's Universal Re gi str ation Document for
the year ended December 31, 2020 (the "2020 Universal Registration Document")
for a descriptionof certain important factors, risks and uncertainties that may
affect AXA'sbusiness and/ or results of operations, particularly in respect of
the Covid-19 crisis. AXA undertakes noobligation topublicly update or revise
any of these forward-looking statements, whether toreflect new informat ion,
future events or circumstances or otherwise, except as required by applicable
laws and regulations.

This press release is for informational purposes only and does not constitute
an offer to sell or the solicitation of anoffer to buy any securities, and
shall not constitute anoffer, solicitationor sale in any jurisdiction in which
such offer, solicitation or sale wouldbe unlawful prior to registration or
qualification under the securities lawsof that jurisdiction. The distribution,
publication or release of this pr ess release or any informationcontained
therein or relating theretomay be prohibited by lawin certain jurisdictions.
Persons intowhose possession thispress release or information comes are re quir
ed to inform themselves of and toobserve these restrictions. Non-compliance
withthese restrictions may result in the violation of legal restrictions
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relation to the distributionof suchpress release or information inany
jurisdiction.

This press release does not constitute a recommendation concerning any issue of
securities. Potential  investors should consult a professional adviser as to
the suitability ofthe Notes referred to  herein for the person concerned.

This press release and the informationit contains may not be published,
released, forwarded, transmittedor distributed, directly or indirectly, in or
into the United States (including i ts te r ri t orie s and dependencies) or to
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This press release is an advertisement and not a prospectus for the purposes of
Regulation(EU) 2017/1129 of June 14, 2017 (as amended, the "Prospectus
Regulation") and Delegate d R egulation (EU) 2019/979 of March 14, 2019, as
amended. Investors in the European Economic Area ("EEA")
whowishtoobtaininformation on the terms and conditions of the Notes, and
determine whether or not t he y may, and wish to, subscribe thereto are urged
to read, and refer exclusively to, the prospectusto be submitted by AXA SAfor
approval tothe Luxembourg Financial Markets Authorit y (Com mission de
Surveillance du Secteur Financier)(the "CSSF"), before making an investment
decision inorder tofully understand the potential risksand rewards associated
withthe decision  toinvest  in  these  securities. Such prospectus will be
published on AXA's website (www.axa.com, Section "Investors", sub-section
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(other)") and on the website of the Luxembourg Stock Exchange (www.bourse.lu).
The approval of thisprospectus by the CSSF should not be understood as an
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The Notes referred toherein are not intendedto be offered, sold or otherwise
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purposes of this provision: (a) "retail investor" means a person w ho i s one
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12/04/2024 18:20

AXA (EPA:CS) - AXA announced the successful placement of Euro 1 billion of subordinated green bonds due 2041

Transparency directive : regulatory news

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