| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2024 > News item |
AXA starts cash tender offers for two deeply subordinated notes
Chicago, Feb. 27 – AXA started separate any-and-all tender offers for two notes on Monday, according to a document.
The company is offering to purchase from the £350 million outstanding 6.6862% fixed-to-floating rate undated deeply subordinated notes (ISIN: XS0260056717) with a first call date on July 6, 2026.
The second offer covers the £723,925,000 outstanding 5.453% undated deeply subordinated resettable notes (ISIN: XS1134541561) with a first call date on March 4, 2026.
The consideration for the floating-rate notes will be based on the 1.5% U.K. Treasury due July 22, 2026 and a purchase spread of 70 basis points.
The consideration for the resettable notes will be based on the 0.125% U.K. Treasury due Jan. 30, 2026 and a purchase spread of 55 bps.
Interest will also be paid.
Tender instructions are due by 11 a.m. ET on March 4.
Pricing will be determined at 6 a.m. ET on March 5.
Settlement is expected on March 7.
The company is conducting the tender offers to actively manage its debt structure.
Tenders will not be prorated.
Barclays Bank Ireland plc (+44 20 3134 8515, eu.lm@barclays.com) and Deutsche Bank AG (+44 20 7545 8011) are the dealer managers.
Kroll Issuer Services Ltd. (+44 20 7704 0880, axa@is.kroll.com, https://deals.is.kroll.com/axa)is the tender and information agent.
AXA is a Paris-based insurance company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.