Crédit Agricole S.A. Announces Key Bond Redemption Details
Crédit Agricole S.A. Announces Bond Redemption
Crédit Agricole S.A. is set to redeem all of its outstanding ¥105,500,000,000 Japanese Yen Callable Senior Non-Preferred Bonds, which were issued on June 4, 2020. This redemption, effective on June 4, 2025, will occur under the terms of the Bonds' Conditions.
The Issuer confirms that the redemption will be conducted at a price of 100 percent of the principal amount. In addition, bondholders will receive any interest accrued up to the redemption date, making the total redemption amount this full sum.
What Happens on Redemption Date?
On the set redemption date, the full redemption amount will become payable to bondholders, assuming there’s no improper withholding of funds. It’s important for investors to note that the bonds will no longer accrue interest once this date arrives, marking a significant event for those holding these financial instruments.
Notice to Bondholders
Crédit Agricole S.A. assures that all holders of the bonds will receive formal notifications about the redemption in line with the established Conditions of the Bonds. This communication aims to ensure clarity and transparency regarding the proceedings of this financial event.
Understanding Callable Bonds
Callable bonds are a type of bond that gives the issuer the right to redeem the bond before its maturity date. This is often advantageous for issuers if interest rates decline, allowing them to refinance at lower rates. Crédit Agricole S.A.'s upcoming redemption provides a glimpse into the bank's strategic financial management.
Investor Implications
Investors should understand how this bond redemption could impact their investment strategies. Depending on timings and market conditions, these changes may create opportunities or risks in their overall portfolio management.
Contact Information
For more details or inquiries about this redemption, investors can reach out directly to Crédit Agricole S.A.'s press contact. Alexandre Barat can be contacted at the number provided, and Olivier Tassain is also available for any queries regarding this announcement.
Frequently Asked Questions
What is the total redemption amount for the bonds?
The total redemption amount will be ¥105,500,000,000 plus any accrued interest up to the specified redemption date.
When will the bonds be redeemed?
The bonds will be redeemed on June 4, 2025.
Will the bonds continue to earn interest post-redemption date?
No, the bonds will cease to earn interest on the redemption date.
How will bondholders be notified about the redemption?
Bondholders will receive formal notice in accordance with the Conditions of the Bonds.
Who can I contact for further inquiries about this redemption?
Investors can contact Alexandre Barat or Olivier Tassain through the contact details provided for any additional questions or clarifications.
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