AXA Launches €2 Billion Notes Placement

AXA announced the successful placement of €1 billion Restricted Tier 1 Notes and €1 billion Tier 2 Notes. These issuances are part of AXA Group's 2025 funding strategy. The proceeds will facilitate general corporate functions, including debt refinancing. Settlement is set for June 2, 2025.

The Restricted Tier 1 Notes have a fixed annual interest rate of 5.750% until 2030. They meet Solvency II requirements with a loss absorption mechanism. These notes are expected to be rated BBB+ by Standard & Poor’s and Baa1(hyb) by Moody's.

Tier 2 Notes hold a fixed rate of 4.375% until 2035, thereafter transitioning to a floating rate. These qualify as Tier 2 capital under Solvency II. Expected ratings are A- by Standard & Poor’s and A2(hyb) from Moody's.