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Axa - Notice of Noteholder Meetings - Results (US Offer) - LIBOR

Announces results of the meeting in respect of its outstanding USD750,000,000 Series B Fixed to Floating Rate Undated Deeply Subordinated Notes (ISIN: US054536AC14; USF0609NAQ19) (the “Notes”)


28 APRIL 2023


Full announcement including disclaimers and offer restrictions available via luxse


"Results of the Meeting


NOTICE IS HEREBY GIVEN to the Noteholders that:


(i) at the Meeting in respect of the Notes, the necessary quorum was achieved, the Extraordinary Resolution was passed and the Eligibility Condition was satisfied; (B) the relevant Supplemental Agency Agreement has been executed and delivered by the Issuer, the Principal Paying Agent and the other parties thereto today, 28 April 2023; and (C) the modifications to the Conditions of, and the transaction documents for, the Notes described in the Consent Solicitation Memorandum have been implemented with effect from today, 28 April 2023; and


(ii) the Reference Rate Adjustment in respect of the Notes is 0.26161 per cent. per annum"

 

NOTICE OF NOTEHOLDER MEETING


28 MARCH 2023


Full announcement including disclaimers and offer restrictions available via AXA


NOTICE OF NOTEHOLDER MEETING


to the holders of the

USD750,000,000 Series B Fixed to Floating Rate Undated Deeply Subordinated Notes (ISIN:

US054536AC14; USF0609NAQ19)

(the “Notes”)

of the Issuer presently outstanding.

...


"BACKGROUND


Status of USD LIBOR


The UK Financial Conduct Authority (the “FCA”) announced on 5 March 2021 (the “FCA’s 5 March 2021 Announcement”) that all London Inter Bank Offered Rate (“LIBOR”) settings will either cease to be provided by any administrator or no longer be representative of the underlying market and economic reality (and that representativeness will not be restored) immediately after (i) 31 December 2021, in the case of all sterling, euro, Japanese Yen and Swiss Franc, and the one week and two-month USD LIBOR settings, or (ii) 30 June 2023, in the case of the remaining USD LIBOR settings. Regulators have continued to urge market participants to take active steps to implement the transition to SOFR and other risk-free rates ahead of the applicable USD LIBOR cessation date."

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