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SCOR announces the launch of a cash tender offer and its intention to issue new subordinated notes
SCOR announces the launch of a cash tender offer and its intention to issue new subordinated
About this update from Scor Se
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED) OR ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS PRESS RELEASE.Press release27 May 2026 - N° 9SCOR announces the launch of a cash tender offer and its intention to issue new subordinated notes SCOR SE (the “Company”) announces the launch of a cash tender offer (the “Tender Offer”) to purchase its EUR 250,000,000 Fixed to Reset Rate Subordinated Notes due 5 June 2047 (ISIN: FR0012770063), issued on 5 June 2015, with a first call date on 5 June 2027 (of which EUR 250,000,000 are currently outstanding) (the “2047 Notes”) and its EUR 500,000,000 Fixed to Reset Rate Subordinated Notes due 27 May 2048 (ISIN: FR0013179314), issued on 27 May 2016, with a first call date on 27 May 2028 (of which EUR 500,000,000 are currently outstanding) (the “2048 Notes” and, together with the 2047 Notes, the “Existing Notes”). The Existing Notes are admitted to trading on the regulated market of the Luxembourg Stock Exchange. Simultaneously, the Company announces its intention to issue, subject to market conditions, new Euro-Fixed to Floating Rate Subordinated Notes, eligible as Tier 2 regulatory capital under Solvency II (the “New Notes”). The net proceeds of the issue of the New Notes will be used for general corporate purposes of the Group, including to finance the Tender Offer. The Tender Offer is conditional upon the successful completion, in the Company’s sole determination, of the issue of the New Notes, and is capped at a maximum acceptance amount equal to the aggregate principal amount of the New Notes, such amount being subject to the right of the Company to increase or decrease it at its sole and absolute discretion. In addition, pursuant to the Tender Offer, any and all of the 2047 Notes shall be accepted in priority and, subsequently, the Company intends to accept the 2048 Notes up to a maximum acceptance amount equal to the difference between (i) the aggregate principal amount of t...