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BNP Paribas works on benchmark offer of additional tier 1 notes; price talk in 9.75% area
Chicago, Nov. 9 – BNP Paribas SA is in the market with an offering of perpetual fixed-rate resettable additional tier 1 notes (Ba1/BBB-/BBB), according to a market source.
The notes will start with a fixed rate that will reset at five-year points.
The notes will come with a first call date on the five-year anniversary, Nov. 17, 2022.
Initial price talk on the benchmark issue is in the 9.75% area.
BNP Paribas Securities Corp. is the global coordinator and sole bookrunner.
Settlement for the Rule 144A and Regulation S deal is expected for Nov. 17.
The notes (Cusips: 05565AS20, F1067PAD8) will be listed on Euronext Paris.
The financial services company is based in Paris.
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