on SCOR (EPA:SCR)
SCOR raises €500 million in subordinated bonds
SCOR SE announced the successful placement of €500 million in subordinated bonds. These bonds, issued to institutional investors, will mature on September 10, 2055. They bear an initial fixed interest rate of 4.522% per annum, payable annually until 2035, after which the rate will be variable based on the three-month EURIBOR.
The bonds qualify as Tier 2 regulatory capital under Solvency II standards. Rated A- by S&P Global Ratings, the net proceeds are intended for general corporate purposes, including the repurchase of €600 million of bonds issued in 2015.
Settlement and delivery of the bonds is scheduled for September 10, 2025. An application for listing on the regulated market of the Luxembourg Stock Exchange is pending. According to SCOR, this issue has benefited from strong market demand.
R. H.
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