Groupama Assurances Mutuelles accepts €228.9 million tendered notes

By Marisa Wong

Los Angeles, Oct. 10 – Groupama Assurances Mutuelles announced the results of its Oct. 3 tender offer to repurchase up to €400 million nominal amount of its €1.1 billion senior subordinated notes issued in 2014 (ISIN: FR0011896513). The tender offer expired at 10 a.m. ET on Oct. 7.

The final acceptance amount is €228.9 million, according to a Monday press release.

Groupama said the purpose of the offer is to proactively manage its capital structure.

The insurance company is based in Paris.

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