GROUPAMA / 2019 Universal Registration Document

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Financing debt Note 25

Financing debt – by maturity 25.1

31.12.2019

31.12.2018

<1 year 1 to 5 years

>5 years

Total

<1 year 1 to 5 years

>5 years

Total

(in millions ofeuros)

Subordinateddebt of insurance companies Financingdebt representedby securities Financingdebt with banking-sector companies TOTAL

1,630 1,630

1,633 1,633

1,630 1,630

1,633 1,633

On 16 September2019, GroupamaAssurancesMutuellesissued a 10-year bond fora nominal €500 million at a fixed rate of 2.125%.

On 27 October 2019, Groupama AssurancesMutuelles redeemed a TRS bond for a nominal value of €500 million at a fixed rate of 7.88%.

Following this transaction, redeemable subordinated securities classified as “financing liabilities”detailed as follows:

Nominal (in millions of euros)

Maturity (if dated)

Step-up clause

Issuedby

Issue date

Coupon Couponrate

GroupamaAssurancesMutuelles

650 23.01.2017 23.01.2027

Fixed

6.00%

no

GroupamaAssurancesMutuelles

500 24.09.2018 24.09.2028

Fixed

3.38%

no

GroupamaAssurancesMutuelles

500 16.09.2019 16.09.2029

Fixed

2.13%

no

At 31 December2019: of the 2017 issue is 127.2%, compared with 111.2% at ● 31 December2018; of the 2018 issue is 110.5%, compared with 92.3% at ● 31 December2018; of the 2019 issue is 100.5% at 31 December2019. ●

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 in the income statement.

Financing debt – by currency and rate 25.2

31.12.2019

Currencies

Rate

Eurozone

Non eurozone

Fixed rate

Variablerate

(in millions ofeuros)

Subordinateddebt of insurancecompanies

1,630

1,630

Financingdebt representedby securities Financingdebt with banking-sectorcompanies TOTAL

1,630

1,630

204

Universal Registration Document 2019 - GROUPAMA ASSURANCES MUTUELLES