Créd Ag sells tier two to Japanese retail investors

Jasper Cox

June 28, 2018 10:30 am

CredAg_PA_230x150 — Moody's ratings agency said Wednesday Sept. 14, 2011, it had downgraded by one notch top French banks Societe Generale and Credit Agricole while leaving BNP Paribas on negative watch. Credit Agricole's rating slid from Aa1 to Aa2 while Societe Generale was cut from Aa2 to Aa3. Shares in all three banks have plummeted in recent weeks on exposure to Greek sovereign debt and turbulence caused by the eurozone debt crisis. File picture : A Credit Agricole credit card is pictured in a Credit Agricole ATM, in Paris, France, on November 28, 2002. Photo by Lucas Schifres/ABACA. | Schifres Lucas/ABACA/PA Images

Crédit Agricole has sold a Samurai bond to retail buyers, marking the first time it has participated in that market. It is in the tier two format, despite European regulators’ concern that non-institutional investors holding bank capital could prevent the effective resolution of institutions.

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Topics

France EMEA Bank Capital Japan Northeast Asia Asia Pacific Europe Crédit Agricole FIG Asia

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Jasper Cox