French insurance and financial services giant AXA announced that it is launching the sale of $1.5 billion worth of subordinated notes “to provide AXA with resources to finance its growth.”
The securities, which are registered with the SEC, go on sale tomorrow in Europe and on November 27th in the U.S. Final terms will be announced “at the end of the marketing period,” said AXA’s announcement.
Issued in three “tranche,” the notes will carry a fixed rate 30 year maturity in U.S. dollars, and slightly different terms in Euros and Pounds Sterling.
AXA anticipates that they’ll be highly rated – A- by S&P, A2 by Moody’s and A by Fitch.
Topics AXA XL
Was this article valuable?
Here are more articles you may enjoy.
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success 
Robotaxi Riders Are Falling Asleep, Sparking Frantic 911 Calls 
Hellman & Friedman’s Hub International Seeks $3 Billion in IPO 
Allianz Unit to Cut as Many as 1,800 Jobs in Push to Adopt AI 
