Crédit Agricole in Annual Update of €85 Billion EMTN Program

April 8, 2022

Cleary Gottlieb represented Crédit Agricole S.A. in the annual update of its €85 billion medium-term note (EMTN) program, which closed on April 8, 2022.

From April 2021 to April 2022, Cleary represented Crédit Agricole S.A. in 27 offerings of notes under its EMTN program for an aggregate nominal amount of €10.31 billion, NOK 2.5 billion, £500 million, CHF 430 million, and A$330 million.

The notes are governed by French law and qualify as senior preferred notes, senior non-preferred notes, or subordinated notes. They bear either fixed, floating, or fixed-to-floating interest rates and are either listed or non-listed.

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

Crédit Agricole S.A. 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.