AXA Announces the Successful Completion of Its First Mortality Risk Securitization Transaction
2006年11月13日 - 5:22PM
PRニュース・ワイアー (英語)
PARIS, Nov. 13 /PRNewswire-FirstCall/ -- AXA announces today the
implementation through a special purpose vehicle, "OSIRIS Capital
plc", of a Euro 1 billion shelf program to transfer mortality risk
to the capital markets. This shelf program is a flexible and
efficient structure to diversify sources of cover for the Group's
mortality risk exposure by benefiting from the broad capacity of
capital markets. In this framework, AXA also announces the
successful placement of notes indexed to mortality levels in France
(60% of the combined index), Japan (25%) and the US (15%), for a
total amount of circa Euro 345 million. This first offering was
nearly 4 times oversubscribed. To date, AXA is the first primary
insurer to put in place such an innovative risk management tool and
to transfer a sub-investment grade mortality risk layer to capital
markets. Details of the issuance are as follows: Class Size
Margin(1) Rating (S&P/Moody's) Guaranteed(2) Class B floating
rate Euro 100m +20 bps AAA / Aaa notes Class B Principal-at-risk
Euro 50m +120bps A- / A3 Class C floating rate US$ 150m +285bps BBB
/ Baa2 Class D notes US$ 100m +500bps BB+ / Ba1 (1) Over EURIBOR 3
Months for Class B Notes, LIBOR 3 Months for Class C and D notes
(2) By a third party guarantor This press release is not an offer
for sale within the United States of any security of OSIRIS CAPITAL
PLC. Securities of OSIRIS CAPITAL PLC, including any offering of
its ordinary shares, may not be offered or sold in the United
States absent registration under U.S. securities laws or unless
exempt from registration under such laws. The offering of OSIRIS
CAPITAL PLC's securities described in this press release has not
been and will not be registered under U.S. securities laws, and
accordingly, any offer or sale of these securities may be made only
in a transaction exempt from registration. About AXA: AXA Group is
a worldwide leader in Financial Protection. AXA's operations are
diverse geographically, with major operations in Western Europe,
North America and the Asia/Pacific area. IFRS revenues amounted to
Euro 72 billion for full year 2005 and Euro 59 billion in 9M06. The
AXA ordinary share is listed and trades under the symbol AXA on the
Paris Stock Exchange. The AXA American Depository Share is also
listed on the NYSE under the ticker symbol AXA. This press release
is available on the AXA Group web site: http://www.axa.com/ AXA
Investor Relations: Etienne Bouas-Laurent: +33.1.40.75.57.25 Sophie
Bourlanges: +33.1.40.75.56.07 Emmanuel Touzeau: +33.1.40.75.49.05
Kevin Molloy: +1.212.314.2893 AXA Media Relations: Christophe
Dufraux: +33.1.40.75.46.74 Clara Rodrigo: +33.1.40.75.47.22 Armelle
Vercken: +33 1 40 75 46 42 Mary Taylor: +1.212.314.5845 IMPORTANT
LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-
LOOKING STATEMENTS This press release contains "forward-looking
statements" which involve risks and uncertainties. These statements
include, but are not limited to, statements that are predictions of
or indicate future strategy, forecasts, events, trends, plans or
objectives. Many of the forward-looking statements are derived from
operating budgets and forecasts, which are based upon many detailed
assumptions. While we believe that our assumptions are reasonable,
we caution that it is very difficult to predict the impact of known
factors, and, of course, it is impossible for us to anticipate all
factors that could affect our actual results. All forward-looking
statements are based upon information available to us on the date
of this presentation. Forward-looking statements used herein
include such statements as defined under US federal securities
laws. DATASOURCE: AXA CONTACT: Investor Relations: Etienne
Bouas-Laurent, +33-1-40-75-57-25, Sophie Bourlanges,
+33-1-40-75-56-07, Emmanuel Touzeau, +33-1-40-75-49-05, Kevin
Molloy, +1-212-314-2893, Media Relations: Christophe Dufraux,
+33-1-40-75-46-74, Clara Rodrigo, +33-1-40-75-47-22, Armelle
Vercken, +33-1-40-75-46-42, Mary Taylor, +1-212-314-5845 Web site:
http://www.axa.com/
Copyright