AXA Launches Tender Offer for Subordinated Notes in Debt Optimization Move

(IN BRIEF) AXA has initiated an any and all cash tender offer for two series of its subordinated notes, including the GBP 350,000,000 Fixed to Floating Rate Undated Deeply Subordinated Notes issued on July 6, 2006, and the GBP 723,925,000 Undated Deeply Subordinated Resettable Notes issued on November 7, 2014. The tender offers are set to expire on March 4, 2024, as part of AXA Group’s proactive debt structure management strategy to optimize its capital base. Detailed information regarding the tender offers is available on the AXA Group website and through the designated Tender and Information Agent, Kroll.

(PRESS RELEASE) PARIS, 26-Feb-2024 — /EuropaWire/ — AXA today announced an any and all cash tender offer for each of the following two series of AXA SA subordinated notes:

• GBP 350,000,000 Fixed to Floating Rate Undated Deeply Subordinated Notes issued on July 6, 2006* and
• GBP 723,925,000 Undated Deeply Subordinated Resettable Notes issued on November 7, 2014**

The tender offers will expire at 5:00 p.m., Central European time, on March 4, 2024, unless extended or terminated earlier by AXA in its sole discretion.

The transaction is part of AXA Group’s active management of its debt structure and will allow AXA to further optimize its capital base.

Further information concerning the tender offers is available on https://deals.is.kroll.com/axa and on the AXA Group website***.

Questions regarding procedures for tendering notes may be directed to Kroll, the Tender and Information Agent for the tender offers, at +44 20 7704 0880 or by email at axa@is.kroll.com.

* fixed rate of 6.6862% until the first call date on July 6, 2026

** fixed rate of 5.453% until the first call date on March 4, 2026

*** https://www.axa.com/en/investor/regulated-informations-financial-operations

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SOURCE: AXA