Media Relations
Body
SCOR SE (the “Company”) has successfully completed the placement with institutional investors of EUR 500,000,000 Fixed to Floating Rate Subordinated Notes, maturing on 10 September 2055, and eligible as Tier 2 regulatory capital under Solvency II (the “Notes”). The transaction met a strong investor demand.
The initial fixed rate of 4.522% per annum will be payable annually in arrears until 10 September 2035 (inclusive). From that date, the Notes will bear interest at a variable rate (3-month EURIBOR + margin) payable quarterly in arrears on 10 March, 10 June, 10 September and 10 December of each year, commencing on 10 December 2035 (inclusive).
In accordance with Solvency II requirements, payment of interest on the Notes shall, in certain circumstances, be deferred.
The Notes are rated A- by S&P Global Ratings Europe Limited.
The estimated net proceeds of the issue of the Notes will be used for general corporate purposes of the Group, including to finance the concurrent tender offer for the EUR 600,000,000 Fixed to Reset Rate Subordinated Notes due 8 June 2046 (ISIN: FR0013067196), issued on 7 December 2015, with a first call date on 8 June 2026 announced by the Company in a press release published on 2 September 2025.
The settlement of the Notes is expected to occur on 10 September 2025. Application will be made for the Notes to be admitted to trading on the Luxembourg Stock Exchange’s regulated market.
(Full press release available to download from the right sidebar)
