CNP Assurances Successfully Completes €750-million Subordinated Bond Issue

PARIS, December 9, 2015 /PRNewswire/ --

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On 1^st December 2015, CNP Assurances completed a €750 million issue of subordinated bonds with a final maturity date of 10^th June 2047 and a first-call date of 10^th June 2027. CNP Assurances took advantage of current favourable market conditions in order to prepare the refinancing of upcoming redemptions.

The strong order book gathered €2.2 billion from 175 institutional European investors. This success reaffirms the interest for and the trust in CNP Assurances credit.

The issue is structured to be recognized as capital under both Standard & Poor's criteria and insurance regulations. The bonds, which will be eligible as Tier 2 capital under Solvency 2 standards, are CNP Assurances' first subordinated issue not benefiting from the transitional measures (grand-fathering) introduced by the Solvency 2 Directive.

The bonds will pay a 4.5% fixed-rate coupon over the first 11.5 years, and will then be converted to a floating rate with a step up of 100 basis points. The new bonds are rated BBB+ by Standard & Poor's, given the rating methodology applied to hybrid debt.

Settlement is scheduled for 10^th December 2015.

The prospectus will be available on the following websites: http://www.cnp.fr and http://www.amf-france.org.

About CNP Assurances

CNP Assurances is France's leading personal insurer with net profits of €1,080 million in 2014. The Group also has operations in other European countries and in Latin America, with a significant presence in Brazil. It has more than 28 million personal risk/protection insureds worldwide and more than 13 million savings and pensions policyholders. For 160 years, CNP Assurances has been protecting people against the risks of everyday life. The Group designs and manages life insurance, pension, personal risk insurance and protection products (term creditor insurance and health insurance).

• In France, CNP Assurances distributes its individual insurance products through La Banque Postale and the Caisses d'Epargne, as well as through its own network: Amétis. In Brazil, its second largest market, the Group's partner is Caixa Econômica Federal, the country's second-biggest state-owned bank.
• In group insurance, CNP Assurances crafts tailor-made personal risk, pension and term creditor insurance products that are aligned with the needs of companies, local authorities, mutual insurers, non-profit organizations, and banks in Europe and Latin America.

CNP Assurances has been listed on the Paris Stock Exchange since October 1998 (the first market) and has a stable shareholder structure thanks to the signing of an agreement between its major shareholders (Caisse des Dépôts, La Banque Postale, Groupe BPCE and the French State).

http://www.cnp.fr

@CNP_Assurances

Disclaimer: Some of the statements contained in this press release may be forward-looking statements referring to projections, future events, trends or objectives which, by their very nature, involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements by reason of factors such as changes in general economic conditions and conditions in the financial markets, legal or regulatory decisions or changes, changes in the frequency and amount of insured claims, particularly as a result of changes in mortality and morbidity rates, changes in surrender rates, interest rates, foreign exchange rates, the competitive environment, the policies of foreign central banks or governments, legal proceedings, the effects of acquisitions and the integration of newly-acquired businesses, and general factors affecting competition.

Further information regarding factors which may cause results to differ materially from those projected in forward looking statements is included in CNP Assurances' filings with the Autorité des Marchés Financiers. CNP Assurances does not undertake to update any forward-looking statements presented herein to take into account any new information, future eventor other factors.

Distribution of this press release may be restricted in some countries. Any person in possession of this press release should inform themselves about and comply with any local restrictions.

This press release is not for distribution, directly or indirectly, in or into the United States. This press release and the information contained herein are not an offer to buy ou subscribe, nor a solicitation to buy or subscribe, securities in the United States or any other jurisdiction where such offer may be restricted. Securities may not be offered or sold in the United States unless they are registered under the U.S. Securities Act of 1933, as amended or exempt from registration. The notes have not been and will not be registered under the U.S. Securities Act and CNP Assurances does not intend to make a public offer of its securities in the United States. Copies of this document are not being, and should not be, distributed in or sent into the United States.

As far as the United Kingdom is concerned, this press release is directed only at persons who (i) are "investment professionals" falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion Order) 2005 (as amended, the "Financial Promotion Order"), (ii) are persons falling within Article 49(2)(a) to (e) (high net worth companies, unincorporated associations etc.) of the Financial Promotion Order, (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons referred to in (i) to (iv) together being referred to as "relevant persons"). This document must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available in the United Kingdom to relevant persons only and will be engaged in only with relevant persons.

This press release and the information contained herein do not constitute an offer to sell or subscribe, nor a solicitation of an order to buy or subscribe the notes in any country.

Contacts
Press:
Florence de Montmarin : +33-01-42-18-86-51
Tamara Bernar : +33-01-42-18-86-19
[email protected]

Investors and analysts:
Jim Root :  +33-01-42-18-71-89
Annabelle Beugin-Soulon : +33-01-42-18-83-66
Julien Docquincourt : +33-01-42-18-94-93
[email protected]

SOURCE CNP Assurances