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Axa announces placement of 1 billion euros of undated subordinated notes

Friday, 16 May 2014 02:05pm EDT 

Axa SA:Announces placement of 1 billion euros of Reg S undated subordinated notes to institutional investors.Initial spread over swap is 225 basis points.Initial coupon has been set at 3.875 pct per annum.It will be fixed until first call date in Oct. 2025 and reset thereafter every 11 years with 100 basis points step-up. 

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0.09 +0.35%
26 Nov 2014