Placement of a perpetual fixed rate resettable restricted Tier 1 notes issuance in the amount of USD 124,8 million by SCOR SE to be assimilated and form a single series with the existing perpetual deeply subordinated notes in the amount of USD 625 million issued in March 2018.
The 2018 placement was the first transaction for a restricted Tier 1 instrument with a principal write-down feature in USD and the first placement issue by an insurance company in France under Solvency II regulations, which provided the SCOR SE Group with the greatest financial flexibility and strongest quality of capital for a debt instrument. Philippe Derouin acted as counsel of SCOR SE on certain tax aspects of both transactions. Stephenson Harwood has advised SCOR SE on the new issue. BNP Paribas, Crédit Agricole CIB and JP Morgan, acting as Joint Lead Managers have been advised by Allen & Overy.
Download - Press release SCOR SE 2019
Download - Press release SCOR SE 2018