Crédit Agricole Assurances announces the success of its previously launched Tender Offers, their Final Acceptance Amount and the Results

Press release                                                                                            Paris, 11 September 2024

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Crédit Agricole Assurances announces the success of its previously launched Tender Offers, their Final Acceptance Amount and the Results

Crédit Agricole Assurances announces today:

(i)   the success of its tender offers launched on 3 September 2024 (“Tender Offers”) and relating to two series of undated subordinated notes issued in 2014 (ISIN FR0012222297) and 2015 (ISIN FR0012444750) (“Existing Notes”) of which an aggregate nominal amount of 788,500,000 euros for both series of Existing Notes has been validly tendered;

(ii)   the final acceptance amount of its Tender Offers; and

(iii)   the Results for each series of the Existing Notes.

These Tender Offers on 1,250,000,000 euros in nominal value of subordinated debt that benefited from a grandfather clause, along with the issue of 750,000,000 euros in Tier 2 debt maturing in December 2034, enable Crédit Agricole Assurances to spread the maturity profile of its debt and are in line with its active capital management policy.

On 3 September 2024, Crédit Agricole Assurances invited the qualifying holders of the Existing Notes (the “ Qualifying Holders”) to tender their Existing Notes for purchase by Crédit Agricole Assurances according to the terms and conditions set out in the Tender Offer Memorandum. The two series of Existing Notes concerned by the Tender Offers are undated subordinated notes issued in 2014 and 2015 by Crédit Agricole Assurances, currently grandfathered, with an outstanding principal amount of €620 million (ISIN FR0012444750) and €630 million (ISIN FR0012222297) and bearing interest at fixed rates of 4.25% and 4.50% per annum, resettable on 13 January and 14 October 2025, respectively.