Axa has placed a €750 million Reg S subordinated bond issue maturing in 2056 (the bonds) with institutional investors. The issuance is part of the insurer's financing plan, and the proceeds will be used for general corporate purposes, including the refinancing of a portion of its existing debt. Settlement of the bonds is scheduled for May 29, 2026.
The initial fixed rate is set at 4.375% per annum until May 29, 2036, the first call date, after which the interest rate will become floating and equal to 3-month EURIBOR plus a margin of 240 basis points.
The bonds meet the eligibility criteria for Tier 2 basic own funds under Solvency II. They are eligible as capital from both a regulatory and rating agency perspective, within applicable limits.
AXA is the European leading insurance group. Net sales break down by activity as follows:
- damage insurance (62.1%): mainly car insurance, home insurance, property damage, civil liability, and major risk insurance. The group also offers assistance services (medical assistance for travelers, breakdown service for vehicles, etc.);
- life insurance (36.6%): sale of savings policies, retirement accounts, estate planning services, and health insurance to individuals and companies;
- other (1.3%): mainly banking activities in France, Belgium and Germany.
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Investor
Investor
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Global
Global
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Quality
Quality
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ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
