A&O Shearman advises banks on Crédit Agricole Assurances EMTN program and EUR 750 million notes issuance

"A&O Shearman advised the banking syndicate on Crédit Agricole Assurances' new EMTN program and its inaugural issuance of perpetual deeply subordinated Restricted Tier 1 notes totalling EUR 750 million. The notes, rated BBB by S&P, carry a fixed 5.875% coupon until the first reset in 2032, were admitted to trading on Euronext Paris and settled on 16 June 2026."

A&O Shearman advised the banking syndicate in connection with Crédit Agricole Assurances' establishment of its Euro Medium Term Note (EMTN) program and the issuer's inaugural issuance of perpetual deeply subordinated Restricted Tier 1 notes. The transaction comprised the launch of Crédit Agricole Assurances' EMTN program and the issuance of perpetual deeply subordinated Restricted Tier 1 notes in an aggregate nominal amount of EUR 750 million. The notes were admitted to trading on the regulated market of Euronext Paris, bear interest at an initial fixed annual rate of 5.875% until the first reset date in 2032, and have been rated "BBB" by Standard & Poor's. Settlement took place on 16 June 2026. This transaction is the first launched by Crédit Agricole Assurances under its newly established EMTN program and forms part of the company's capital management strategy. A&O Shearman represented the banking syndicate with a team composed by: partner Julien Sébastien, senior associate Marion Hébrard-Lemaire and associate Henri Fang. A&O Shearman represented the banking syndicate on French tax aspects with a team composed by: partner Mathieu Vignon and senior associate Virginie Chatté.

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A&O Shearman advises banks on Crédit Agricole Assurances EMTN program and EUR 750 million notes issuance

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A&O Shearman advises banks on Crédit Agricole Assurances EMTN program and EUR 750 million notes issuance

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