RCI BANQUE ISSUES A 750 M€ 10.25 YEARS TIER 2 SUBORDINATED BOND
June 25 2024 - 1:45PM
RCI BANQUE ISSUES A 750 M€ 10.25 YEARS TIER 2 SUBORDINATED BOND
RCI BANQUE ISSUES A 750 M€ 10.25 YEARS TIER 2
SUBORDINATED BOND
On 25th June 2024, RCI Banque has successfully
priced a new Tier 2 subordinated Notes for 750 million euros,
maturing on 09th October 2034 and callable in the 3-month period to
09th October 2029 (5.25 years). The bond carries a 5.5% coupon
until 09th October 2029, after which it will reset to 5-year
swap rate + 275 bp for the last 5 years if not redeemed.
The transaction was conducted after half a day
of virtual roadshow which allowed RCI Banque to engage directly
with over 40 investors.
This issuance extends the maturity profile of
RCI Banque’s Tier 2 layer and is part of its dynamic capital
management strategy aimed at maintaining a solid capital structure
and robust safety margins compared to capital
requirements.
This transaction was well received by the
financial community and attracted a final order book close to 2
billion euros from approximately 160 investors.
The success of this transaction demonstrates RCI
Banque's ability to access capital markets across instruments.