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Article: CNP Assurances Successfully Launches a Subordinated Debt Issue.
- Article from:
- PR Newswire
- Article date:
- December 13, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS, December 13 /PRNewswire-FirstCall/ -- As announced on 10 October 2006, CNP Assurances has carried out a junior perpetual subordinated bond issue, the proceeds of which will be used to finance the acquisition of 49.9% of Ecureuil Vie.
Equivalent to "Tier One" capital under banking regulations, the issue attracted considerable interest among French and international investors. To meet the strong demand and take advantage of the favourable financial market conditions, the amount of the issue was raised from EUR700 million to EUR1.25 billion, and was still heavily over subscribed
The issue followed the 22 November announcement by Standard & Poor's ...