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Société Générale — Capital/Financing Update 2013
Aug 29, 2013
1671_iss_2013-08-29_0ca96d6f-5cb5-4fa4-8cdd-02c0c59b7298.pdf
Capital/Financing Update
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FINANCIAL INFORMATION
Paris, 29 August 2013
SUCCESSFUL SUBORDINATED HYBRID TIER 1 ISSUE
Taking advantage of the definition of the regulatory framework (CRD4-CRD) regarding additional Tier 1 capital (Tier One), Societe Generale has successfully structured and raised USD 1.25bn through the issuance of a perpetual subordinated hybrid debt instrument, eligible to Basel 3 Tier 1 under the new regulatory definition, with a 8.25% coupon.
The transaction has been well received by the market as illustrated by the size, depth and quality of the order book which exceeded USD 4bn. It has been of particular appeal to institutional investors, especially in Europe.
The Group's Common Equity Tier One Capital ratio stood at 9.4% at the end of June. At the time of the release of the Q2 2013 results, Societe Generale said it had already secured its end of 2013 9.5% Basel 3 core tier one ratio, well above the minimum Basel 3 regulatory capital standards.
Additional Tier 1 capital of this subordinated hybrid Tier 1 issue will contribute to further reinforce the Group's financial solidity, adding respectively 27 basis points* to the Group's Basel 3 Tier 1 and total capital ratios.
* pro forma calculation based on RWA at the end of June 2013 and a USD/EUR FX rate at 1.3266
PRESS RELATIONS
LAETITIA MAUREL
+33(0)1 42 13 88 68 [email protected] +33(0)1 41 45 98 33 [email protected] NATHALIE BOSCHAT
HELENE AGABRIEL
ASTRID BRUNINI +33(0)1 42 13 68 71 [email protected]
ANTOINE LHERITIER +33(0)1 42 13 68 99 [email protected] SOCIETE GENERALE COMM/PRS 75886 PARIS CEDEX 18 SOCIETEGENERALE.COM
A FRENCH CORPORATION WITH SHARE CAPITAL OF EUR 998 320 373.75 552 120 222 RCS PARIS
+33(0)1 42 14 83 21
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Societe Generale
Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
More than 154,000 employees, based in 76 countries, accompany 32 million clients throughout the world on a daily basis. Societe Generale's teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama; International retail banking, with a presence in Central and Eastern Europe, Russia, in the Mediterranean basin, in Sub-Saharan Africa, in Asia and in the French Overseas Territories;
- Corporate and investment banking with a global expertise in investment banking, financing and global markets.
Societe Generale is also a significant player in specialised financing and insurance, private banking, asset management and securities services.
Societe Generale is included in the socially-responsible investment indices FTSE4Good and ASPI.
For more information, you can follow us on twitter @societegenerale or visit our website www.societegenerale.com.