By Cristal Cody
Tupelo, Miss., Oct. 15 – Credit Agricole SA (London Branch) sold $1.5 billion of 2.375% senior notes due Jan. 22, 2025 (Aa3/A+/A+) on Tuesday at a spread of Treasuries plus 85 basis points, according to a market source.
The notes priced on the tight side of guidance in the 85 bps to 90 bps spread area.
Initial price talk was in the Treasuries plus 100 bps area.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC were the active bookrunners.
The London-based bank is a subsidiary of Credit Agricole SA.
| Issuer: | Credit Agricole SA (London Branch)
|
| Amount: | $1.5 billion
|
| Securities: | Senior notes
|
| Maturity: | Jan. 22, 2025
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC
|
| Coupon: | 2.375%
|
| Spread: | Treasuries plus 85 bps
|
| Trade date: | Oct. 15
|
| Ratings: | Moody’s: Aa3
|
| S&P: A+
|
| Fitch: A+
|
| Price guidance: | Treasuries plus 85 bps-90 bps area; initial talk at Treasuries plus 100 bps area
|
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