Crédit Agricole in Annual Update of €80 Billion EMTN Program

April 9, 2020

Cleary Gottlieb represented Crédit Agricole S.A. (Crédit Agricole) in the annual update of its €80 billion medium-term note (EMTN) program, which closed on April 9, 2020.

From April 2019 to April 2020, Cleary represented Crédit Agricole in 30 offerings of notes under its program for an aggregate nominal amount of €10.69 billion, A$975 million, CHF 280 million, JP¥11.3 billion, $50 million, £300 million, and S$325 million.

The notes issued by Crédit Agricole, acting directly or through its London branch, are governed by either French law or English law, and qualify as senior preferred notes, senior nonpreferred notes, or subordinated notes. The notes bear either fixed, floating, or fixed-to-floating interest rates, and are either listed or nonlisted.

The offerings were syndicated or nonsyndicated, and Crédit Agricole Corporate and Investment Bank acted as arranger and permanent dealer.

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.