Crédit Agricole: insurance subsidiary E750m bond issue

(CercleFinance.com) - Crédit Agricole announced on Wednesday that its insurance subsidiary had successfully placed a E750m bond issue.


The subordinated bonds launched by Crédit Agricole Assurances are to carry a fixed rate of 4.50% and mature in December 2034, the green bank said.

The banking institution emphasized that the issue had been structured in such a way that the bonds would be eligible as 'Tier 2' capital under the 'Solvency II' standard.

Crédit Agricole adds that the transaction follows yesterday's launch of buyback offers for two perpetual subordinated bonds that had been issued in 2014 and 2015.

The group states that these transactions are part of its insurance subsidiary's 'active capital management policy'.


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