Groupama has successfully carried out the issue of a new perpetual subordinated debt of EUR 600 million

08 Jan 2026 11:29 CET

Groupama announced the issue on 7 January 2026 of EUR 600 million in fixed-rate Restricted Tier1 perpetual notes, subscribed by institutional investors and offering a fixed coupon of 5.750%. The purpose of this transaction was to take advantage of current supportive market conditions to optimize the group’s capital structure.

Investors showed significant interest in the new notes, with the final order book oversubscribed by more than four times.

The main terms of the new issue are the following:
Issuer: Groupama Assurances Mutuelles
Rating of the notes: BBB by Fitch Ratings
Issue amount: EUR 600 million
Pricing date: 7 January 2026
Settlement date: 14 January 2026
Coupon: 5.750 per cent
ISIN: FR0014014IQ4

J.P. Morgan (Global Coordinator), Citigroup, Crédit Agricole CIB, Morgan Stanley, Natixis and Société Générale CIB acted as joint bookrunners on the transaction. The new notes will be admitted to trading on Euronext Paris.

The prospectus of the new notes will be available on the group’s website (www.groupama.com) and the website of the Autorité des marchés financiers (www.amf-france.org).

Attachment

• 2026_01 PR Groupama_RT1subordinated notes