Cleary Gottlieb represented Crédit Agricole S.A. (Crédit Agricole), acting through its London branch, in an offering of $1 billion 2.375% senior preferred notes due 2025 pursuant to its $20 billion U.S. medium-term note program.
The notes were offered for sale in the United States to qualified institutional buyers under Rule 144A and outside of the United States under Regulation S of the Securities Act of 1933. The managers for the offering were Credit Agricole Securities (USA) Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC, and Wells Fargo Securities LLC. The transaction closed on October 22, 2019.
Crédit Agricole is the lead bank of the Crédit Agricole Group, which is the largest banking group in France and one of the largest in the world.