SCOR SE (SCOR)

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C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	FNCL	PRCD	SCOR	SCOR SE	€500		1	EMEA	May 27, 2026

Tranche #1SCOR SE

currency

EUR

size (m)

500.000

maturity

Jun 5, 2056

type

Fixed to Floating

tenor

30.000

call

10.00

registration

benchmark

Swaps

ranking

Tier 2

moody's

s&p

fitch

size description

Will Not Grow

re-open/tap

ipt

MS+175 area

ipt-pxd

-25

guidance

n/a - straight to launch

spread

150

coupon

4.51%

spread set

price

100.00000

yield

4.51%

book size (m)

1,150

peak book (m)

1,500

x-covered

2.3

book attrition

-23.33%

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

1,150

peak book (m)

1,500

x-covered

2.3

book attrition

-23.33%

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

Book size: 1150; First Pay: 2027-06-05; Redemption: 2035-12-05; Comments: DBR 2.9% 02/36 +152.9bps (@99.31% - HR 95%). Tax Call: Yes. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 96950056ULJ4JI7V3752;

Use of Proceeds

General corporate purposes of the Group, including to finance the concurrent tender offer on the Issuer’s outstanding €250,000,000 Fixed to Reset Rate Subordinated Notes due 5 June 2047 with a first call date on 5 June 2027 (ISIN: FR0012770063) and €500,000,000 Fixed to Reset Rate Subordinated Notes due 27 May 2048 with a first call date on 27 May 2028 (ISIN: FR0013179314) announced by the Issuer on 27 May 2026

Relative Value

COMPS
Ticker	Issue Date	Ratings (M/S&P/F)	Amount	Coupon	Maturity Date	Call Date	Reset Date	I-Sprd
SCOR	Sep-25	-/A-/-	500	4.52%	Sep-55	Mar-35	Sep-35	136/
AXASA	Jun-25	A1/A/-	1000	4.38%	Jul-55	Jan-35	Jul-35	135/
AXASA	May-26	A1/A/-	750	4.38%	May-56	May-36	May-36	140/

Hide Details

CreditFlow: End of Day (Europe IG)	May 27, 2026

May 27, 2026

1 to 1 of 1

	PRICED: SCOR SE €500m 30NC10 T2; MS+150bp	May 27, 2026
	ALLOCATIONS OUT: SCOR SE €500m 30NC10 T2; MS+150bp	May 27, 2026
	LAUNCHED: SCOR SE €500m 30NC10 T2; MS+150bp	May 27, 2026
	UPDATE (BOOKS): SCOR SE €500m (WNG) 30NC10 T2; MS+175a	May 27, 2026
	NEW ISSUE: SCOR SE €500m (WNG) 30NC10 T2; MS+175a	May 27, 2026

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SCOR SE (SCOR)

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