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Crédit Agricole announces preliminary results of undated notes redemption tender

Crédit Agricole SA announced May 30 the preliminary results of early participation in its May 15 tender offer for a series of four undated, deeply subordinated notes.

The offer applies to a maximum of €679.2 million of notes from the series and is part of an overall repurchase of up to €1.5 billion of various notes.

Crédit Agricole said it had received tenders amounting to £160.5 million from two series of sterling-denominated notes, and to US$166.6 million and €83.5 million from one series each of dollar- and euro-denominated notes.

The offers expire at 11:59 p.m. New York time June 13, or 5:59 a.m. Paris time June 14.

Crédit Agricole Corporate and Investment Bank is serving as sole structuring bank and sole dealer manager for the tender offers.