Groupama has successfully carried out the issue of a subordinated debt for a principal amount of EUR 500 million

Groupama announced the issue on 17 September 2018 of Euro-denominated Fixed Rate subordinated notes due 2028 placed with institutional investors for a principal amount of EUR 500 million, with an annual coupon of 3.375%. The purpose of this transaction was to take advantage of current supportive market conditions to optimize the group's capital structure.

Investors showed significant interest in the new notes with the order book around 3 times oversubscribed.

Main terms of the new issue:

Issuer: Groupama Assurances Mutuelles

Expected rating of the notes: BBB- by Fitch

Issue amount: €500 million

Pricing date: 17 September 2018

Settlement date: 24 September 2018

Annual coupon: 3.375 per cent.

1^st interest payment date: 24 September 2019

ISIN: FR0013365640

BNP Paribas, Citigroup, Crédit Agricole CIB, HSBC (Sole Structuring Advisor), J.P. Morgan and Natixis acted as joint bookrunners on the transaction. The new notes will be admitted to trading on Euronext Paris.

The prospectus of the new notes will be available on the group’s internet website (www.groupama.com) and on the website of the Autorité des marchés financiers (www.amf-france.org).