Coface launches tender offer for up to €150 million of subordinated notes

By Mary-Katherine Stinson

Lexington, Ky., Sept. 12 – Coface SA launched a tender offer for up to €150 million of the €380 million outstanding guaranteed subordinated 4.125% notes due March 27, 2027 (ISIN: FR0011805803), according to a press release on Monday.

The notes are issued by Coface SA in 2014 and guaranteed by Compagnie francaise d'assurance pour le commerce exterieur (Coface France).

Concurrently, the company is working to price a new issue of euro-denominated fixed-rate tier 2 notes.

The tender offer will expire at 10 a.m. ET on Sept. 20.

Results will be announced on Sept. 21.

Coface is a Paris-based trade credit insurer.

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