AXA announces the placement of Euro 1 billion Restricted Tier 1 Notes and Euro 1 billion Tier 2 Notes

AXA today announced the placement of Euro 1 billion of Reg S perpetual deeply subordinated notes (the “Restricted Tier 1 Notes”) and Euro 1 billion of Reg S subordinated notes due 2055 (the “Tier 2 Notes” and together with the Restricted Tier 1 Notes, the “Notes”) with institutional investors. These issuances are part of AXA Group’s funding plan for 2025, and the proceeds will be used for general corporate purpose, including the refinancing of part of AXA Group’s outstanding debt. The settlement of the Notes is expected to take place on June 2, 2025.Restricted Tier 1 Notes:The Restricted Tier 1 Notes will have a fixed annual interest rate of 5.750% until December 2, 2030, the last day of the 6-month call window period, following which the interest rate will reset and every five years thereafter at the prevailing Euro 5-year Mid Swap rate plus a margin of 359.9 basis points.The Restricted Tier 1 Notes qualify as Restricted Tier 1 capital under Solvency II. In line with the Solvency II requirements, they feature a loss absorption mechanism in the form of a write-down* of the nominal amount of the Restricted Tier 1 Notes in the event that one of the solvency-related triggers** is breached***. Interest payments are at the full discretion of AXA unless they are mandatorily prohibited. The Restricted Tier 1 Notes will be treated as capital from a regulatory and rating agency perspective within applicable limits.They are expected to be rated BBB+ by Standard & Poor’s and Baa1(hyb) by Moody’s.Tier 2 Notes:The Tier 2 Notes will have a fixed annual interest rate of 4.375% until July 24, 2035, the last day of the 6-month call window period, following which the interest rate will be a floating rate based on 3-month EURIBOR plus a margin of 290 basis points.The Tier 2 Notes qualify as Tier 2 capital under Solvency II. They will be treated as capital from a regulatory and rating agency perspective within applicable limits.They are expected to be rated A- by Standard & Poor’s and A2 (hyb) by Moody’s.* With discretionary reinstatement subject to conditions as further described in the Prospectus dated May 28, 2025** As defined in the Prospectus dated May 28, 2025*** Either at AXA Group level or at AXA SA solo levelWeiter zum vollständigen Artikel bei AXA SAShs Weiter zum vollständigen Artikel bei AXA SAShs