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BNP Paribas will redeem two subordinated notes due to status change
Chicago, Nov. 29 – BNP Paribas announced that it would redeem two of its undated deeply subordinated notes due to their losing their tier 1 eligibility on Jan. 1, 2022, according to a notice.
The bank will redeem the €150 million undated super subordinated note issued on July 13, 2006 (ISIN: FR0010348565) and the $1.1 billion undated super subordinated notes issued on June 25, 2007 (ISIN: US05565AAB98).
The notes will be redeemed at par plus interest on the redemption date, Jan. 3.
The redemption falls under the under the condition of their terms “redemption for regulatory reasons or taxation reasons.”
BNP Paribas is a Paris-based banking and financial services company.
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