31 Oct 2025

"Clifford Chance Advises Crédit Agricole S.A. on CAD 900 Million Tier 2 Subordinated Notes Issuance"

"Clifford Chance provided legal advice to Crédit Agricole S.A. on its CAD 900 million Tier 2 subordinated notes issuance, targeted at qualified Canadian investors and due in 2035. The firm handled both French and English law aspects, while Blake, Cassels & Graydon LLP advised on Canadian law."

Clifford Chance and Blake, Cassels & Graydon LLP participated in the transaction, advising Crédit Agricole S.A. on its issuance of CAD 900 million Tier 2 subordinated fixed-to-floating rate notes. The transaction involved Crédit Agricole S.A. issuing CAD 900 million Tier 2 subordinated fixed-to-floating rate notes (4.186% 10NC5 subordinated fixed-to-floating rate notes) due in 2035. The notes were targeted at qualified Canadian investors and deposited with the Canadian clearing system, CDS Clearing and Depositary Services Inc. ("CDS"). The Clifford Chance team advising on French and English law aspects included Cédric Burford (partner), Auriane Bijon (counsel), Batoul Laanani (senior associate), and Sabrine Kadi (juriste). On Canadian law aspects, Crédit Agricole S.A. was advised by Blake, Cassels & Graydon LLP.
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