Menu

Reinsurance News

CCR Re bolsters solvency with €300mn bond issue

9th July 2020 - Author: Matt Sheehan

French reinsurance firm CCR Re has completed the placement of €300 million Tier 2 subordinated bonds in its first bond issuance.

ccr-re-logoThe bond was quickly placed with more than 150 investors, mainly based in France, Europe and Asia.

CCR Re said the issue will support the development of its Streamline business plan and provide customers with a stronger solvency.

“Today’s inaugural issue sets a milestone in CCR Re history,” said Bertrand Labilloy, Chairman & CEO of CCR Re.

“Its success, notably in the form of an oversubscription of more than 5 times, shows the market confidence in the strategy, performance and financial strength of the company,” he added

“We would like to thank the investors for their support and HSBC, Natixis and CA-CIB for the excellent execution of this transaction”.

The securities issued will mature in 2040 with a first early redemption date at the option of the issuer in 2030.

This bond has an annual fixed coupon of 2.875% until 15 July 2030 and a variable quarterly coupon after this date.

Natixis and HSBC were involved as Global Coordinators and Joint Book Runners and Crédit Agricole CIB was involved as Joint Book Runner.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Munich Re Specialty Insurance launches new MPL offering

Munich Re Specialty Insurance, a division of global reinsurance giant Munich Re, has launched a new Miscellaneous Professional Liability (MPL)...

Close