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A&O Shearman advises banks on Crédit Agricole Assurances’ EMTN program and EUR750 million notes issuance

A&O Shearman advises banks on Crédit Agricole Assurances’ EMTN program and EUR750 million notes issuance
Published Date
Jul 6 2026
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Image of Julien Sebastien
Julien SebastienPartner, Paris
Marion Hébrard-LemaireSenior Associate, Paris
Image of Mathieu Vignon
Mathieu VignonPartner, Paris
Image of Virginie Chatté
Virginie ChattéSenior Associate, Paris
A&O Shearman advised the banking syndicate in connection with the establishment of Crédit Agricole Assurances' Euro Medium Term Note (EMTN) program, as well as its inaugural issuance of perpetual deeply subordinated Restricted Tier 1 notes, in an aggregate nominal amount of EUR750m.

Admitted to trading on the regulated market of Euronext Paris, the Notes will bear interest at an initial fixed annual rate of 5.875% until the first reset date in 2032 and have been rated "BBB" by Standard & Poor's. Their settlement took place on June 16, 2026.

This is the first transaction launched by Crédit Agricole Assurances under its newly established EMTN program, as part of its capital management strategy.

The A&O Shearman Paris team was composed of partner Julien Sébastien, senior associate Marion Hébrard-Lemaire, and associate Henri Fang. Partner Mathieu Vignon and senior associate Virginie Chatté handled the French tax aspects of the transaction.

 

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