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Credit Mutuel announces results of three-note tender offer
Chicago, Oct. 21 – Banque Federative du Credit Mutuel announced the results of its cash tender offer for three series of notes in a notice on Friday.
The issuer is accepting the following amounts of tendered notes from the three series:
• €84,058,000 of the €150 million outstanding deeply subordinated fixed-to-variable rate notes (ISIN: FR0010128835) issued by Caisse Federale du Credit Mutuel Nord Europe on Nov. 18, 2004 with a first call date on Nov. 18, 2014 and a current coupon of 1.909% at a fixed purchase price of 84;
• €314.22 million of the €750 million outstanding undated deeply subordinated fixed-to-floating rate notes (ISIN: XS0207764712) issued by Banque Federative du Credit Mutuel on Dec. 15, 2004 with a first call date on Dec. 15, 2014 and a current coupon of 2.365% at a fixed purchase price of 84; and
• €158,507,000 of the €250 million outstanding undated deeply subordinated fixed-to-floating rate notes (ISIN: XS0212581564) issued by Banque Federative du Credit Mutuel on Feb. 25, 2005 with a first call date on Feb. 25, 2015 and a current coupon of 0.957% at a fixed purchase price of 84.
After settlement, there will be €65,942,000 of the November 2004 notes, €435.78 million of the December 2004 notes and €91,493,000 of the February 2005 notes remaining.
The offer expired at 10 a.m. ET on Oct. 20.
Settlement is expected to be on Oct. 25.
The dealer managers are BNP Paribas (liability.management@bnpparibas.com; +33 1 55 77 78 94) and HSBC Continental Europe (LM_EMEA@hsbc.com; +44 20 7992 6237).
The tender and information agent for English law notes is BNP Paribas, Luxembourg Branch (+352/26 96 62 301; fax +352/26 96 97 57; lu_bp2s_offer@bnpparibas.com). The tender and information agent for French law notes is BNP Paribas (fax +33 1 57 43 31 38; paris.bp2s.offers@bnpparibas.com for tender agent and paris.bp2s.information.agent@bnpparibas.com for information agent).
The bank holding company is based in Paris.
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