THIS ANNOUNCEMENT
IS FOR INFORMATION ONLY AND IS NOT AN OFFER TO PURCHASE OR A
SOLICITATION OF OFFERS TO SELL ANY SECURITIES.
Montrouge 30 May
2017
Crédit Agricole
S.A. Announces Preliminary Early Participation Results for the
Waterfall Offers
____________________
Crédit Agricole S.A. announced
today the preliminary principal amounts tendered as of 8:00 a.m.,
New York City time / 2:00 p.m. Central European time on 30 May 2017
(the "Early Participation Date") in its tender
offers (the "Waterfall Offers") for the four
series of notes (the "Waterfall Notes") listed
in the table below. The Waterfall Offers are subject to a
maximum tender amount (the "Maximum Waterfall
Tender Amount") of EUR679,211,262, the Acceptance Priority
Levels set forth in the table below and proration as described in
the related offer to purchase dated 15 May 2017 (the "Waterfall Offer to Purchase").
The table below sets forth
information with respect to the aggregate principal amount of each
series of Waterfall Notes that were validly tendered and not
withdrawn at or prior to the Early Participation Date.
Title of Waterfall Notes |
CUSIP / ISIN No. |
Principal Amount Tendered as of the Early
Participation Date |
Acceptance Priority
Level |
Early Participation Amount(1) |
Reference Benchmark |
Bloomberg Reference Page/Screen |
Fixed Spread |
GBP
7.589% Undated Deeply Subordinated Notes |
ISIN:
FR0010575654 |
GBP63,000,000 |
1 |
GBP30.00 |
4.75%
UK Treasury due 7 March 2020 |
DM02 |
+300bps |
GBP
8.125% Undated Deeply Subordinated Notes
|
ISIN:
FR0010814418 |
GBP97,500,000 |
2 |
GBP30.00 |
3.75%
UK Treasury due 7 September 2019 |
DM02 |
+235bps |
USD
8.375% Undated Deeply Subordinated Notes |
CUSIP:
225313AB1 (Rule 144A) / F22797FK9 (Reg S)
ISIN:
US225313AB10 (Rule 144A) / USF22797FK97 (Reg S) |
USD166,582,000 |
3 |
USD30.00 |
1.250%
U.S. Treasury due 30 April 2019 |
FIT1 |
+200bps |
EUR
7.875% Undated Deeply Subordinated Notes |
ISIN:
FR0010814434 |
EUR83,500,000 |
4 |
EUR30.00 |
Interpolated Mid-swap Rate |
ICAE1 |
+100bps |
(1) The total
consideration payable for each Waterfall Note will be a price per
GBP1,000, USD1,000 or EUR1,000, as applicable, in principal amount
of such Waterfall Note validly tendered at or prior to the Early
Participation Date and accepted for purchase by Crédit Agricole
S.A., and will include the Early Participation Amount.
As described in the Waterfall
Offer to Purchase, the exchange rates used to determine the euro
equivalent of the above principal amounts tendered (and therefore
whether the Waterfall Maximum Tender Amount has been exceeded and
whether proration will be required) and the applicable reference
yields for determining the total consideration to be paid in
respect of each series will be determined at 9:00 a.m. New York
City time / 3:00 p.m. Central European time on 31 May
2017. Crédit Agricole S.A. expects to issue a press release
on 31 May 2017 announcing the final aggregate principal amount of
each series of Waterfall Notes that were validly tendered and not
withdrawn at or prior to the Early Participation Date, the euro
equivalent of the aggregate principal amount of Waterfall Notes
that were validly tendered and not validly withdrawn at or prior to
the Early Participation Date, proration (if any) and the total
consideration to be paid for each series of Waterfall Notes
determined according to the applicable reference yield, all as
described in the Waterfall Offer to Purchase.
The Expiration Date of the
Waterfall Offers is 11:59 p.m., New York City time, on 13 June
2017/5:59 a.m., Central European time, on 14 June 2017
(subject to extension).
For further details about the terms and conditions
of the Waterfall Offers and the procedures for tendering Waterfall
Notes in the Waterfall Offers, please refer to the Waterfall Offer
to Purchase. Capitalised terms used in this announcement but not
defined herein have the meanings given to them in the Waterfall
Offer to Purchase.
Further
Information
Copies of the Any and All Offer to
Purchase, the Waterfall Offer to Purchase and other documentation
are available at http://gbsc-usa.com/Credit-Agricole/.
Questions and requests for assistance in
connection with the Offers may be directed to:
The Sole Structuring Bank and Sole Dealer Manager for the
Tender Offers
Crédit Agricole
Corporate and Investment Bank
12, place des Etats-Unis, CS
70052
92547 Montrouge Cedex
France
Attn: Liability Management
Tel: +44 207 214 5733
Email: liability.management@ca-cib.com
Credit Agricole Securities (USA)
Inc.
Attn: Debt Capital Markets/Liability Management
1301 Avenue of the Americas
New York, New York 10019
Collect: 212-261-7802
U.S. Toll Free: (866) 807-6030
Questions and requests for
assistance in connection with the tenders of Notes including
requests for a copy of the relevant Offer to Purchase may be
directed to:
The Tender Agents and the Information Agents for the Tender
Offers
In respect of USD Notes
Global Bondholder Services
Corporation
65 Broadway - Suite 404
New York, New York 10006
Attn: Corporate Actions
Banks and Brokers call: (212) 430-3774
Toll free (866)-794-2200
By facsimile:
(For Eligible Institutions only):
(212) 430-3775/3779
Confirmation:
(212) 430-3774 |
In respect of GBP or EUR Notes
CACEIS Corporate Trust S.A.
1-3, Place Valhubert
75013 Paris
Attn: Charlotte HUGO
Tel: +33 (1) 57 78 34 10
Email: charlotte.hugo@caceis.com /
LD-F-CT-OST-MARCHE-PRIMAIR@caceis.com
|
Disclaimer
Holders must make
their own decision as to whether to tender any of their Notes
pursuant to the Waterfall Offers, and if so, the principal amount
of Notes to tender. Holders should consult their own tax,
accounting, financial and legal advisors as they deem appropriate
regarding the suitability of the tax, accounting, financial and
legal consequences of participating or declining to participate in
the Waterfall Offers.
This announcement
is not an offer to purchase or a solicitation of offers to sell any
securities.
This announcement
is not an invitation to participate in the Waterfall Offers. Such
an invitation will only be extended by means of documents (the
"Offers to Purchase") that will be provided
only to those investors to whom such an invitation may be legally
addressed. The distribution of this announcement in certain
countries may be prohibited by law.
Offer
Restrictions
United Kingdom.
The communication of this announcement, the Offers
to Purchase and any other documents or materials relating to the
Waterfall Offers are not being made, and such documents and/or
materials have not been approved, by an authorised person for the
purposes of section 21 of the Financial Services and Markets Act
2000 (the "FSMA"). Accordingly, such documents
and/or materials are not being distributed to, and must not be
passed on to, the general public in the United Kingdom. The
communication of such documents and/or materials is exempt from the
restriction on financial promotions under section 21 of the FSMA on
the basis that it is only directed at and may be communicated to
(1) persons who have professional experience in matters relating to
investments, being investment professionals as defined in Article
19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "FPO"); (2) persons
who fall within Article 49(2)(a) to (d) of the FPO ("high net worth
companies, unincorporated associations etc."); or (3) any other
persons to whom these documents and/or materials may lawfully be
communicated. Any investment or investment activity to which the
Offers to Purchase relate is available only to such persons or will
be engaged only with such persons and other persons should not rely
on it.
France. The Waterfall Offers are
not being made, directly or indirectly, to the public in the
Republic of France. Neither this announcement, the Offers to
Purchase nor any other documents or offering materials relating to
the Waterfall Offers have been or shall be distributed to the
public in the Republic of France and only (i) providers of
investment services relating to portfolio management for the
account of third parties (personnes fournissant le service
d'investissement de gestion de portefeuille pour compte de tiers)
and/or (ii) qualified investors (investisseurs qualifiés) acting
for their own account, with the exception of individuals, within
the meaning ascribed to them in, and in accordance with, Articles
L.411-1, L.411-2 and D.411-1 of the French Code monétaire et
financier and applicable regulations thereunder, are eligible to
participate in the Waterfall Offers. Neither this announcement, the
Offers to Purchase nor any other such offering material has been
submitted for clearance to the Autorité des marchés
financiers.
Italy. None of the Waterfall
Offers, this announcement, the Offers to Purchase or any other
documents or materials relating to the Waterfall Offers have been
or will be submitted to the clearance procedure of the Commissione
Nazionale per le Società e la Borsa ("CONSOB")
pursuant to applicable Italian laws and regulations.
The Waterfall
Offers are being carried out in the Republic of Italy ("Italy") as exempted offers pursuant to Article 101-bis,
paragraph 3-bis of Legislative Decree No. 58 of February 24, 1998,
as amended (the "Consolidated Financial Act")
and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of
May 14, 1999, as amended.
Holders or
beneficial owners of the Notes (as defined in the Offers to
Purchase) that are resident and/or located in Italy can tender the
Notes for purchase through authorized persons (such as investment
firms, banks or financial intermediaries permitted to conduct such
activities in Italy in accordance with the Consolidated Financial
Act, CONSOB Regulation No. 16190 of October 29, 2007, as amended,
and Legislative Decree No. 385 of September 1, 1993, as amended)
and in compliance with any other applicable laws and regulations
and with any requirements imposed by CONSOB or any other Italian
authority. Each intermediary must comply with the applicable
laws and regulations concerning information duties vis-à-vis its
clients in connection with the Notes or the Offers.
European Economic Area. In
any European Economic Area ("EEA") Member
State, this announcement and the Offers to Purchase are only
addressed to and is only directed at qualified investors in that
Member State within the meaning of Directive 2010/73/EU, together
with any applicable implementing measures in any Member State, the
"Prospectus Directive."
Press release ENG
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: CREDIT AGRICOLE SA via Globenewswire
Credit Agricole (EU:ACA)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Credit Agricole (EU:ACA)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024