Crédit Agricole S.A. to Redeem USD Undated AT1 Notes Soon
Crédit Agricole S.A. Announces Note Redemption
Crédit Agricole S.A. has recently announced an important financial move for investors, focusing on its outstanding USD Undated Deeply Subordinated Additional Tier 1 Fixed Rate Resettable Notes. These notes, issued back in January 2016, will be fully redeemed as of December 23, 2025. This decision has significant implications for holders of these financial instruments.
Details of the Redemption
The company will execute the redemption, which is expected to take effect on the announced Redemption Date. All holders of these securities will receive a Redemption Amount that equates to the outstanding nominal value alongside any accrued interest. This decision aligns with Condition 7.2 within the terms and conditions that were initially laid out in a prospectus from January 2016.
Tender Offer Insights
Earlier, Crédit Agricole S.A. made headlines when it executed a tender offer to repurchase a significant portion of these notes, amounting to $792,311,000. This strategic move means that the impending redemption now concerns the remaining $457,689,000 of notes still circulating in the market. Such actions demonstrate the company's proactive approach in managing its financing and ensuring efficient capital allocation.
Implications for Investors
As investor confidence is critical in navigating the complex financial landscape, it's vital for existing holders of these notes to carefully consider the implications of this redemption announcement. According to the terms, all accrued interest will cease on the Redemption Date unless withheld, ensuring that holders are informed in a timely manner.
Official Communication to Holders
Formal notice regarding the redemption will be provided to each holder according to the stipulated terms. This step ensures all investors are well-informed about the upcoming changes and can adjust their investment strategies accordingly.
Understanding the Broader Financial Context
This redemption plays a critical role in Crédit Agricole S.A.'s capital management strategy. As global markets evolve and regulatory environments shift, the bank's actions reflect a dedication to maintaining a solid fiscal foundation. Investors should be aware of the broader financial context, particularly how this redemption aligns with the bank's commitment to strengthening its balance sheet.
Contact Information for Inquiries
For additional information regarding this redemption and other investor-related inquiries, stakeholders can reach out to the following press contacts at Crédit Agricole S.A.:
Alexandre Barat - +33 1 57 72 12 19 - alexandre.barat@credit-agricole-sa.fr
Olivier Tassain - +33 1 43 23 25 41 - olivier.tassain@credit-agricole-sa.fr
Frequently Asked Questions
What notes are being redeemed by Crédit Agricole S.A.?
Crédit Agricole S.A. is redeeming its USD Undated Deeply Subordinated Additional Tier 1 Fixed Rate Resettable Notes issued in January 2016.
When will the redemption take effect?
The redemption will take effect on December 23, 2025.
What will happen to the interest on the notes after the redemption?
Interest on the notes will cease on the Redemption Date unless the Redemption Amount is improperly withheld or refused.
How much of the total notes will be redeemed?
The total outstanding amount is $457,689,000, following a previous tender offer for $792,311,000.
Who can I contact for more information about the redemption?
Investors can contact Alexandre Barat or Olivier Tassain for detailed inquiries regarding the redemption and other investor-related matters.
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