| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Credit Agricole SA > News item |
Credit Agricole launches tender offers for dollar, euro perpetuals
By Marisa Wong
Los Angeles, April 2 – Credit Agricole SA said it has begun tender offers for its $1.5 billion 6.637% undated deeply subordinated notes (Cusips: 225313AA3, F22797FJ2), of which $104,926,000 is outstanding, and its €600 million CMS floater undated deeply subordinated notes (ISIN: FR0010161026), of which €250,776,000 is outstanding.
Credit Agricole is offering to purchase for cash any and all of its dollar-denominated notes and, simultaneously, up to €300 million less the euro equivalent of the amount purchased in the dollar tender offer of its euro-denominated notes, according to a press release.
The dollar offer expires at 5 p.m. ET on April 8, and tenders may be withdrawn up until that time. The euro offer expires at 10 a.m. ET on April 8.
The offer price for the dollar notes is $870 per $1,000 principal amount. Holders will also receive accrued interest to but excluding the settlement date.
Pricing details for the euro offer were not disclosed in the release. However, non-U.S. holders may obtain copies of the tender offer memorandum from Caceis Corporate Trust SA (+33 6 37 41 17 59, david.pasquale@caceis.com or LD-F-CT-OST-MARCHE-PRIMAIR@caceis.com), the information and tender agent for the euro offer.
The dollar offer is expected to settle on April 13, and the euro offer is expected to settle on April 14.
The dollar offer is not contingent on the tender of any minimum amount of notes and is not conditioned on the completion of the euro offer.
Credit Agricole said it is conducting the offers to optimize its capital base and debt management while offering liquidity to investors.
Credit Agricole CIB (+44 20 7214 5733, liability.management@ca-cib.com) is the dealer manager for both tender offers.
Global Bondholder Services Corp. (212 430-3774, 866 794-2200) is the information and tender agent for the dollar offer.
Credit Agricole is a cooperative bank based in Montrouge, France.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.