AI assistant
CNP Assurances — Capital/Financing Update 2018
Dec 26, 2018
1208_iss_2018-12-26_a0e2a7f7-ab6c-464e-8216-d1ee7f5bc8aa.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
PRESS RELEASE
Paris, 26 December 2018
CNP Assurances announces the establishment of a Euro Medium Term Notes programme
CNP Assurances announces that its new Euro Medium Term Notes (EMTN) programme (the "Programme") received visa from the Autorité des marchés financiers (AMF) on 21 December 2018.
The establishment of the Programme will strengthen CNP Assurances financial flexibility allowing it to seize opportunities on the bond market more rapidly through issuances of subordinated or senior notes, by means of public or private placements and in different currencies. It is fully in line with the Group's financing strategy aiming at constantly seeking to diversify its investor base, both in terms of geographies and currencies –as evidenced by the bonds it placed in EUR, USD and GBP– and to adapt its capital structure on a regular basis taking into account its growth prospects in Europe and Latin America, Solvency 2 own funds requirements and Moody's and Standard & Poor's rating agencies criteria.
The €7 billion amount of the Programme is consistent with the current nominal of CNP Assurances' outstanding subordinated notes. As a reminder, the maximum amount of bonds issues currently authorized by the Board of Directors is €1.5 billion per year1 . The securities to be issued shall be admitted to trading on Euronext Paris.
The base prospectus is available on the AMF's website (www.amf-france.org) and on CNP Assurances' website (www.cnp.fr, heading "Credit Rating and Debt Issuances").
1 Decision of the Board of Directors of 21 February 2018 updated on an annual basis.
About CNP Assurances
CNP Assurances is the largest provider of personal insurance in France with net profits of €1,285 million in 2017. The Group operates in Europe and Latin America, where it is very active in Brazil, its second largest market.
It provides over 38 million people with provident and health insurance worldwide and provides over 14 million people with savings products and pension policies. As an insurance, coinsurance and reinsurance provider, CNP Assurances designs innovative provident and savings solutions. These are distributed by numerous partners according to their distribution methods – from physical networks to entirely online – and clients' needs 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, Groupe BPCE and the French government).
Contacts
Press Florence de Montmarin | +33 1 42 18 86 51 Tamara Bernard | +33 1 42 18 86 19
Follow us on:
Investors and analysts
| Vincent Damas | +33 1 42 18 71 31 |
|---|---|
| Jean-Yves Icole | +33 1 42 18 86 70 |
| Typhaine Lissot | +33 1 42 18 83 66 |
| Julien Rouch | +33 1 42 18 94 93 |