CNP diversifies into dollars with second RT1

By Tyler Davies
29 Mar 2021

CNP Assurances found favourable pricing in dollars this week, when it ventured into the Reg S market for its second sale of restricted tier one (RT1) capital.

The French insurer (A1/A/A+) is one of a handful of firms to have raised debt capital in RT1 format following the introduction of Solvency II.

It sold its debut deal in euros in June 2018, printing a €500m perpetual non-call 10 year at a coupon rate of 4.75%.


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