CNP Assurances Successfully Issues €500 Million Perpetual Notes

CNP Assurances SA has announced the successful issuance of €500 million in Restricted Tier 1 perpetual notes. The issuance took place on June 24, 2025, and features a fixed rate of 5.50% with an initial call date set for July 2, 2032. This strategic move aims to manage upcoming bond maturities and optimize the company's capital structure while maintaining financial flexibility. The proceeds from the notes will count towards Solvency II regulatory capital.

The issuance attracted significant interest, with nearly 100 investors participating. Asset managers took up 75%, followed by insurers and hedge funds at 14%, banks at 6%, and other public investors at 5%. Geographically, UK/Ireland and France led with 27% and 20% subscriptions respectively. The issuance was nearly triply oversubscribed, indicating strong confidence in CNP Assurances’ financial stability.

The notes, rated Baa2 by Moody’s and BBB by Fitch, are scheduled for settlement on July 2, 2025. Detailed terms will be available on the CNP Assurances and Autorité des Marchés Financiers' websites.