White & Case Advises Crédit Agricole on €308 Million Bonds Exchangeable for Eurazeo Shares | White & Case LLP International Law Firm, Global Law Practice
White & Case Advises Crédit Agricole on €308 Million Bonds Exchangeable for Eurazeo Shares

White & Case Advises Crédit Agricole on €308 Million Bonds Exchangeable for Eurazeo Shares

Global law firm White & Case LLP has advised Crédit Agricole S.A. on the issue of bonds exchangeable for Eurazeo shares due 2019.

Crédit Agricole S.A. announced the launch of an issue of €308 million zero coupon bonds on September 27, 2016. The bonds will be redeemed at par at maturity, except in case of an early redemption, subject to a Crédit Agricole S.A. option to deliver existing shares of Eurazeo and an additional amount in cash.

Settlement for the bonds offering is expected to take place on October 3, 2016. An application was submitted for the admission of the bonds to trading on the 'free market' (Marché libre) of Euronext Paris. The bonds have been offered exclusively by way of private placement, under an accelerated bookbuilding process, in France and outside France, with the exception of the United States, Canada, Australia and Japan.

The bonds issue was led by Crédit Agricole Corporate and Investment Bank as sole bookrunner. Concomitantly to the issue, Crédit Agricole S.A. has launched the repurchase, by way of reverse bookbuilding process, of bonds exchangeable for Eurazeo shares due 2016 for a total amount of around €334 million.

The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard with support from associates Tatiana Uskova, Isabelle Touré-Farah and Déborah Ngo Yogo. Counsel Max Turner advised on matters of US law. Partner Alexandre Ippolito, with support from associate Charline Schmit, advised on tax aspects.

Press contact
For more information please speak to your local media contact.