Credit Agricole prints A$900 million in its debut senior-preferred Kangaroo transaction

Tuesday, 23 May 2023

Issuer name: Credit Agricole
Issuer rating: A+/Aa3/A+
Issue rating: A+/Aa3/AA-
Pricing date: 23 May 2023
Settlement date: 1 June 2023
Maturity date: 1 June 2028
Transaction type: senior-preferred Kangaroo bond
Total volume: A$900 million (US$599.1 million)
Lead managers: Credit Agricole CIB, Commonwealth Bank of Australia, National Australia Bank, Nomura, TD Securities

FRN tranche
Volume: A$600 million
Coupon rate: 3m BBSW +160bp
Issue/re-offer price: par
Margin: 160bp/3m BBSW

Fixed-rate tranche
Volume: A$300 million
Coupon: 5.3636%
Issue/re-offer price: par
Issue yield: 5.3636%
Margin to swap: 160bp/s-q