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18 September 2018
Groupama announced the issue on 17 September 2018 of Euro-denominated Fixed Rate subordinated notes due 2028 placed with institutional investors for a principal amount of EUR 500 million, with an annual coupon of 3.375%. 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: 17 September 2018
Settlement date: 24 September 2018
Annual coupon: 3.375 per cent.
1st interest payment date: 24 September 2019
BNP Paribas, Citigroup, Crédit Agricole CIB, HSBC (Sole Structuring Advisor), J.P. Morgan 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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