CNP ASSURANCES (EPA:CNP) - CNP Assurances announces the successful issuance of €500m subordinated Restricted Tier 1 perpetual notes

Transparency directive : regulatory news

21/06/2018 08:50

PRESS RELEASE

                                                          Paris, 21 June 2018

  Not for release in the United States, in Canada, in Japan and in Australia

   CNP Assurances announces the successful issuance of EUR500m subordinated
                       Restricted Tier 1 perpetual notes

CNP Assurances announces the successful issuance of its inaugural subordinated
Restricted Tier 1 notes.

These EUR500m perpetual notes bear a 4.75% fixed rate until the first call date
on 27 June 2028. They feature a principal write-down mechanism together with a
mandatory interest cancellation in case of solvency deficiency of CNP
Assurances, as required by the Solvency II directive.

The notes are expected to be rated BBB- by Standard & Poor's and Baa3 by
Moody's.

This issuance will allow CNP Assurances to prepare next call dates and to
optimize its capital structure, while maintaining its financial flexibility to
issue Restricted Tier 1, Tier 2 and Tier 3 subordinated notes. The proceeds of
the notes will be eligible for inclusion in Solvency II regulatory capital.

More than 3 times oversubscribed, the issue was quickly placed with 110
institutional investors on 20 June 2018. This transaction is the largest
euro-denominated Restricted Tier 1 subordinated notes issued by a European
insurer so far. Its success confirms the confidence of bond investors in the
solidity of the CNP Assurances Group.

The settlement of the notes, which will be admitted to trading on Euronext
Paris, will take place on 27 June 2018. The prospectus will soon be available
on the website of the Company www.cnp.fr and on the website of the Autorité
des marchés financiers www.amf-france.org.

About CNP Assurances

CNP Assurances is the leading personal insurer in France with a net profit of
EUR1,285m in 2017. The Group is active in Europe and Latin America, with a
strong position in Brazil, its second market.

It has more than 38 million personal protection policyholders worldwide and
over 14 million in savings and pensions. Insurer, co-insurer and reinsurer, CNP
Assurances designs innovative protection and savings solutions. They are
distributed by many partners and adapt to their distribution mode, from
physical networks to platforms that are 100% online, and the needs of customers
in each country.

CNP Assurances has been listed on the Paris Stock Exchange since October 1998
and relies on a stable shareholder base (Caisse des Dépôts, La Banque
Postale, BPCE Group and the French state).

Contacts

Press
Florence de Montmarin / +33 (0)1 42 18 86 51
Tamara Bernard / +33 (0)1 42 18 86 19

servicepresse@cnp.fr

Investors and analysts
Vincent Damas / +33 (0) 1 42 18 71 31
Jean-Yves Icole / +33 (0) 1 42 18 86 70
Typhaine Lissot / +33 (0) 1 42 18 83 66
Julien Rouch / +33 (0) 1 42 18 94 93

infofi@cnp.fr

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CNP ASSURANCES (EPA:CNP) - CNP Assurances announces the successful issuance of €500m subordinated Restricted Tier 1 perpetual notes

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