Allen & Overy Paris advises the banking syndicate on Coface SA’s debt management exercise
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13 October 2022
Allen & Overy has advised the banking syndicate, including J.P. Morgan, Natixis and HSBC, in connection with Coface SA’s new issue of EUR300 million subordinated notes and on the tender offer by Coface SA of its EUR380 million subordinated notes due 27 March 2024.
The new notes issued by Coface SA for an amount of EUR300 million bear a fixed annual coupon of 6.000 per cent and are due on 22 September 2032. The notes qualify as Tier 2 regulatory capital in accordance with the Solvency 2 directive and are admitted to trading on the regulated market of Euronext Paris. The notes were issued on 22 September 2022.
The tender offer related to Coface SA’s EUR380 million subordinated 4.125 per cent notes due 27 March 2024, admitted to trading on the regulated market of Euronext Paris. The tender offer settled on 23 September 2022.
The Allen & Overy team in Paris was led by Julien Sébastien (Partner), with Lorraine Miramond (Senior Associate), Laure Bellenger (Senior Associate) and Marc Ghorayeb (Associate) on capital markets aspects. Mathieu Vignon (Partner) and Virginie Chatté (Senior Associate) advised on tax aspects.