Sogécap sucessfully issued EUR 600 millions of tier 2 subordinated notes

Sogécap, a Societe Generale group life insurance company, successfully placed yesterday 600 million euros nominal of subordinated notes. This bond issuance qualifies as prudential Tier 2 capital under Solvency II.

The transaction was 4 times oversubscribed by a diversified investor base, reflecting Sogécap’s credit quality, rated A- by Standard & Poor’s (S&P).

The notes have a 20.5 year maturity with a first call option in year 10 and a fixed annual interest rate of 5%. The notes are rated BBB by S&P and the settlement is expected to take place on October 3, 2024.

This is Sogécap's second public dated subordinated issue, following the €800 million bond transaction executed in November 2023.

Press contact: 
Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com