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Linklaters advised CRR Re on its first bond issue, a EUR 300 million issue of subordinated bonds eligible as Tier 2 core capital.
The bonds will mature in 2040 with a first early redemption date at the option of the issuer in 2030. This bond issue has a fixed annual coupon of 2.875% until 15 July 2030 and a floating quarterly coupon after this date. The bonds have been rated BBB+ by S&P.<\/p>\n
Settlement and delivery of the bonds, admitted to trading on Euronext Growth, took place on July 15, 2020. The funds will be used by CCR Re for general corporate purposes.<\/p>\n
The Linklaters team advising CCR Re consisted of Véronique Delaittre<\/strong>, Partner, Clément Moine<\/strong> and Antoine Galvier<\/strong>, Managing Associates in capital markets. Nadine Eng<\/strong>, Managing Associate, intervened on the tax aspects.<\/p>\n Tags:<\/b> Legal Desire<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"See Campaign: <\/strong>https:\/\/legaldesire.com\/linklaters-advises-ccr-re-on-its-inaugural-tier-2-bond-issue-amounting-to-eur-300-million\/<\/a>
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Linklaters advised CRR Re on its first bond issue, a EUR 300 million issue of subordinated bonds eligible as Tier 2 core capital.The bonds will mature in 2040 with a first early redemption date at the option of the issuer in 2030. This bond issue has a fixed annual coupon of 2.875% until 15 July … Continue reading Linklaters advises CCR Re on its inaugural Tier 2 bond issue amounting to EUR 300 million<\/span><\/a> Continue Reading