Sharechat Logo

Credit Agricole sets rate

Wednesday 19th December 2007

Text too small?

Credit Agricole has set the interest rate on its deeply subordinated notes at 10.035%.

The French bank has raised $250 million through its offer and the notes will begin trading on the NZDX tomorrow.

The initial interest rate for the first five years is 10.035%, reflecting the margin of 1.90% over the five year swap rate. The interest rate for a further five years will be reset on 19 December 2012 at the 1.90% margin over the prevailing swap rate. From 19 December 2017 the interest rate will be reset quarterly at the same margin over the prevailing 90-day bank bill rate.

The notes are direct, subordinated, unsecured obligations of Credit Agricole.

Credit Suisse was arranger for the issue of Notes and Credit Suisse and its strategic alliance partner First NZ Capital Securities Limited acted as joint lead managers of the issue. First NZ Capital Securities acted as organising participant of the issue.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

KMD - 1H FY2024 Interim Results
SCT - Resignation of Chief Executive Officer
March 19th Morning Report
SKC - APPOINTMENT OF CHIEF INFORMATION OFFICER
NWF - Chief Executive Officer Warren Koia Resignation
March 18th Morning Report
Pacific Edge Directors Give Notice of Retirement
Meridian Energy monthly operating report for February 2024
Another unworkable farming rule bites the dust
March 14th Morning Report