CNP ASSURANCES (EPA:CNP) - Pressrelease_CNP_Assurances_Issue_T3_500ME_VA

Transparency directive : regulatory news

01/12/2020 19:53

Press Release
Paris, 1st December 2020

                    Successful EUR500m Tier 3 notes issue

CNP Assurances has successfully placed EUR500 million worth of notes due 8
March 2028 and paying interest at 0.375%. The notes qualify as Tier 3 capital
under Solvency II. Its cost is the lowest ever paid for hybrid capital by a
financial institution in Europe.

The notes were placed with nearly 90 investors, 55% of whom are asset managers,
25% are insurers, 16% are public investors and 4% are banks. The issue was
three times oversubscribed with a total order book of EUR1.5 billion, attesting
to their confidence in CNP Assurances' financial strength. The notes were
priced at 78 basis points over the mid-swap rate.

The Tier 3 bond issue provides bond investors a less risky instrument than a
Tier 2 bond, notably via a coupon deferral clause in the event of a breach of
the Minimum Capital Requirement (MCR) rather than the Solvency Capital
Requirement (SCR), thereby providing investors with an additional degree of
comfort. This new success confirms investors' interest and confidence in the
CNP Assurances signature.

The issue ensures that the Group has the funds in place for its upcoming debt
maturities. The notes are rated BBB+ by Fitch and are expected to be rated A3
by Moody's.

Settlement is scheduled for 8 December 2020. The final terms of the issue will
be published on the Company's website, www.cnp.fr and on the Autorité des
Marchés Financiers' website, www.amf-france.org.

About CNP Assurances

A benchmark player in the French personal insurance market, CNP Assurances is
active in 19 countries in Europe and Latin America, with a significant presence
in Brazil, its second largest market. Acting as an insurer, co-insurer and
reinsurer, CNP Assurances develops innovative personal risk/protection and
savings/pensions solutions. It has more than 38 million personal
risk/protection insureds worldwide and more than 12 million savings/pensions
policyholders. In line with its business model, the Group's solutions are
distributed by multiple partners. The solutions are aligned with each
partner's physical or digital distribution model, while also being tailored to
local clients' needs in each country.

CNP Assurances has been listed on the Paris Stock Exchange since October 1998.
The Group reported net profit of EUR1,412 million in 2019.

Press contacts

Florence de Montmarin      +33 (0)1 42 18 86 51
Tamara Bernard             +33 (0)1 42 18 86 19
Caroline Ceintrey          +33 (0)1 42 18 85 73
servicepresse@cnp.fr

Investors and analysts

Nicolas Legrand            +33 (0)1 42 18 65 95
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 / Headquarters: 4, place Raoul Dautry 75716 Paris cedex 15 ?
00 33 1 42 18 88 88 / www.cnp.fr / Société anonyme. Paid up capital
EUR686,618,477 / Registration no. 341 737 062 RCS Paris ?  Governed by the
French Insurance Code (Code des assurances)

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CNP ASSURANCES (EPA:CNP) - Pressrelease_CNP_Assurances_Issue_T3_500ME_VA

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