Allen & Overy advises the underwriting syndicate on BNP Paribas EUR1 billion Additional Tier 1 notes issuance
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Allen & Overy has advised the underwriting syndicate, including BNP Paribas as Global Coordinator, Sole Bookrunner and Lead Manager and several international investment banks as Co-Managers, on the EUR1,000,000,000 Perpetual Fixed Rate Resettable Additional Tier 1 Notes issuance of BNP Paribas.
This issuance aims to increase the own funds of BNP Paribas. The notes, which are perpetual, bear interest at the rate of 6.875% per annum until December 6, 2029, the first call date. The interest rate will reset on the first call date and on each reset date thereafter at a rate equal to the then applicable 5-year Mid-Swap rate plus a margin of 4.645%.
The Allen & Overy team in Paris was composed of Hervé Ekué (Partner), Quentin Herry (Senior Associate) and Marion Hébrard-Lemaire (Associate) on international capital markets aspects. The team also included Mathieu Vignon (Partner) and Virginie Chatté (Senior Associate) on tax aspects.