Advising SCOR on its U.S.$ 625 Million inaugural Tier 1 notes issuance

De Pardieu Brocas Maffei advised global reinsurance company SCOR on its inaugural issue of perpetual fixed rate resettable restricted Tier 1 notes in an amount of U.S.$ 625 million. This issue of deeply subordinated notes, intended to qualify as Tier 1 own funds for regulatory capital purposes, is the first of its kind in France under the Solvency II Regulations.

The notes are admitted to trading on the Luxembourg Stock Exchange’s regulated market.

Barclays, BNP Paribas, Citigroup, Crédit Agricole CIB, Deutsche Bank and Natixis acted as joint lead managers of the notes issue.

The transaction closed on March 13, 2018.