CASA announces strong demand for its $ 1.25 billion issue

PARIS (Agefi-Dow Jones) – Crédit Agricole SA announced on Wednesday that its issue of perpetual super-subordinated bonds “Additional Tier 1” (AT1) at revisable fixed rate of 1.25 billion US dollars had been the subject of high demand. “The offer has attracted considerable interest, with an order book exceeding US $ 4.8 billion at its peak, and containing more than 170 investors at the final coupon level,” the bank said in a statement. communicated. The bonds have no fixed maturity. They will bear interest at the fixed rate of 4.75% per year – paid quarterly – until September 23, 2029 excluded, from which date the interest rate will be reset every five years to the five-year “Constant Maturity Treasury” rate. in force to which will be added the initial margin of 323.7 basis points, said the bank. “Interest payments may be waived in certain circumstances,” added Crédit Agricole SA. “These bonds were issued to allow the Crédit Agricole Group and Crédit Agricole SA to retain great flexibility in their management of Tier 1 capital,” commented the bank. ([email protected]) ed: LBO

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January 05, 2022 12:03 ET (17:03 GMT)