Crédit Agricole Assurances' Upcoming Notes Redemption Explained

Crédit Agricole Assurances Announces Note Redemption

Crédit Agricole Assurances S.A. has made a significant announcement regarding its Undated Subordinated Resettable Notes issued end January 2015. This decision marks an essential step in the company’s ongoing strategy to manage its financial resources effectively.

Details of the Redemption

The company has confirmed that it will proceed with the redemption of its outstanding Undated Subordinated Resettable Notes, with the effective redemption date set for January 13, 2025. The initial principal amount of these notes totaled €1 billion (ISIN: FR0012444750), but the outstanding amount due for redemption is approximately €245.5 million. This move aligns with the terms outlined in the original prospectus approved by the relevant financial authorities.

Understanding the Terms

As per the terms and conditions stated in the prospectus, holders of these notes will receive the redemption amount on the predetermined date. Additionally, it's crucial to note that interest on these notes will cease to accumulate from the redemption date unless there are any discrepancies in the payment.

What This Means for Investors

For the holders of the Notes, this announcement provides clarity regarding the impending return on their investment. Investors can expect formal communication regarding the redemption, ensuring that they are informed adequately about the transaction.

Credit Rating Highlight

Crédit Agricole Assurances currently holds an A rating with a stable outlook from Standard & Poor’s, which reinforces the company’s strong financial standing and reliability in the insurance market.

About Crédit Agricole Assurances

Crédit Agricole Assurances stands as the leading insurance provider in France and is an integral part of the larger Crédit Agricole Group. The company offers a wide array of insurance products, including health, property, personal protection, and savings. Their services target diverse clients ranging from individuals and professionals to agricultural and business sectors, broadening their outreach across nine countries.

Financial Overview

With a committed workforce of approximately 5,800 employees, Crédit Agricole Assurances has achieved substantial premium income, amounting to an impressive €37.2 billion by the end of the previous year. This robust performance indicates the company’s capability to cater to policyholders efficiently.

Contact Information

For more information or media inquiries, interested parties can reach out to the press contacts:

• Nicolas Leviaux: +33 (0)1 57 72 09 50 / +33 6 19 60 48 53
• Julien Badé: +33 (0)1 57 72 93 40 / +33 7 85 18 68 05
• Email: service.presse@ca-assurances.fr

For investor relations, the following contacts are available:

• Yael Beer-Gabel: +33 (0)1 57 72 66 84
• Gaël Hoyer: +33 (0)1 57 72 62 22
• Email: relations.investisseurs@ca-assurances.fr

Frequently Asked Questions

What are Undated Subordinated Resettable Notes?

These notes are long-term debt instruments issued by a company that can be redeemed at certain times, offering investors a predictable return.

Why is Crédit Agricole Assurances redeeming its Notes?

The redemption is part of the company’s strategy to manage its financial obligations and optimize its capital structure effectively.

What will happen to the interest after the redemption date?

Interest will cease accruing on the redemption date unless payment is improperly withheld.

Who should I contact for more information?

For media inquiries, you can contact Nicolas Leviaux or Julien Badé. For investor relations, you may reach out to Yael Beer-Gabel or Gaël Hoyer.

How does this impact investors?

Investors will receive their principal back on the redemption date, providing clarity and a return on their investment.

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