GROUPAMA / 2018 Registration document

FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS AND NOTES

FINANCING DEBT NOTE 24

Note 24.1

Financing debt – by maturity

31.12.2018

31.12.2017

< 1 year 1 to 5 years

> 5 years

Total

< 1 year 1 to 5 years

> 5 years

Total

(in millions of euros)

Subordinated ebtof insurance companies Financing debt represented by securities Financing debtwith banking-sector companies

1,633

1,633

1,136

1,136

TOTAL

1,633

1,633

1,136

1,136

On 24 September 2018, Groupama Assurances Mutuelles issued a TSR bond for a nominal value of €500 million at a fixed rate of 3.375% for a 10-year term.

Following this operation, the redeemable subordinated debts classified as “financingdebts” are detailedas follows:

Next issuer redemption option Coupon Coupon rate Step-up clause

Nominal (in millions of euros)

Maturity (if dated)

Issuer

Issue date

Groupama Assurances Mutuelles

500 27.10.2009 27.10.2039 27.10.2019 Fixed

7.88%

yes

Groupama Assurances Mutuelles

650 23.01.2017 23.01.2027

Fixed

6.00%

no

Groupama Assurances Mutuelles

500 24.09.2018 24.09.2028

Fixed

3.38%

no

At 31 December 2018, the rating: of the 2009 issue is 105.5%, compared with 113.7% at ❯ 31 December 2017; of the 2017 issue is 111.2%, compared with 126.3% at ❯ 31 December 2017; of the 2018 issue is 92.3%at 31 December 2018. ❯

In view of the specific terms and conditionsof each issue pursuant to IAS 32 § 16 and 17, these bonds are considered as financial liabilities rather than equity instruments. They are therefore recognised under financing debt. Interest costs net of tax are recognised inthe incomestatement.

7

Financing debt – by currency and rate Note 24.2

31.12.2018

Currencies

Rate

Variable rate

Eurozone

Non eurozone

Fixed rate

(in millions of euros)

Subordinated ebtof insurance companies

1,633

1,633

Financing debt represented by securities Financing debtwithbanking-sector companies

TOTAL

1,633

1,633

249

REGISTRATION DOCUMENT 2018 - GROUPAMA ASSURANCES MUTUELLES