By Rebecca Melvin
Concord, N.H., July 1 – Groupama Assurances Mutuelles priced €500 million 0.75% seven-year tier 3 green notes (expected rating: //BBB) at 99.505, according to market sources.
J.P. Morgan AG, Citigroup, Credit Agricole CIB, HSBC, Natixis and Societe Generale are managers of the Regulation S deal.
The proceeds of the subordinated notes are expected to be used to finance or refinance eligible green projects including green buildings, renewable energy, clean transportation, environmentally sustainable management of living natural resources and land use and energy efficiency.
Listing of the notes on the Euronext Paris exchange is expected.
The insurance company is based in Paris.
| Issuer: | Groupama Assurances Mutuelles
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| Issue: | Subordinated green notes
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| Amount: | €500 million
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| Maturity: | July 7, 2028
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| Bookrunners: | J.P. Morgan AG, Citigroup, Credit Agricole CIB, HSBC, Natixis and Societe Generale
|
| Coupon: | 0.75%
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| Price: | 99.505
|
| Pricing date: | June 20
|
| Settlement date: | July 7
|
| Rating: | Fitch: BBB
|
| Distribution: | Regulation S
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