Crédit Agricole goes down under in search of tier two

Credit Agricole logo from Adobe 13Nov19 230x150
By Frank Jackman
14 Jan 2021

Crédit Agricole tapped the Australian dollar market for tier two debt this week, following up last Tuesday's public US dollar benchmark with a privately placed trade in a similar tenor.

The borrowerself-arranged a A$100m ($77.4m) 3% January 2041 tier two note on Tuesday. The issue price was not disclosed.

“Typical subordinated deals have a call option but this does not, in line with the recent 20 year [US] dollar public trade,” said one MTN banker. “It looks ...

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