Gide on the issuance of USD 700 million Restricted Tier 1 perpetual notes by CNP Assurances

Gide advised CNP Assurances on the issuance of its USD 700 million deeply subordinated Restricted Tier 1 notes admitted to trading on the regulated market of Euronext Paris.

The issuance will allow CNP Assurances to prepare next call dates and to optimize its capital structure, while maintaining its financial flexibility to issue Restricted Tier 1, Tier 2 and Tier 3 subordinated notes. The proceeds of the notes will be eligible for inclusion in Solvency II regulatory capital.

Gide’s team was led by Hubert du Vignaux (partner) assisted by Bastien Raisse (counsel) and Victor Delion (associate).

The joint lead managers were advised by Allen & Overy Paris.