AXA announced today a cash tender offer for each of the following two series of AXA SA subordinated notes:
Each tender offer is subject to a maximum tender amount of USD 500,000,000 in respect of the 8.60% Subordinated Notes due December 15, 2030, and a maximum tender amount of USD 300,000,000 in respect of the Series B Fixed to Floating Rate Undated Deeply Subordinated Notes.
The tender offers will expire at 11:59 p.m., New York City time, on September 26, 2022, unless extended or terminated earlier by AXA in its sole discretion. Each tender offer will include an early tender period which will terminate automatically on September 12, 2022*, unless extended by AXA. Investors participating in the tender offers after this date will receive a lower consideration for their notes.
The transaction is part of AXA’s active management of its debt structure and will allow AXA to further optimize its capital base.
Questions regarding procedures for tendering notes may be directed to D.F. King, the Information and Tender Agent for the tender offers, at (within the United States) +1 (212) 269-5550 (for banks and brokers) or +1 (800) 714-3306 (all others) / (outside the United States) +44 20 7920 9700 or by email at firstname.lastname@example.org.
* At 5:00 p.m., New York City time.