By Devika Patel
Knoxville, Tenn., Aug. 7 – Caixa Central de Credito Agrícola Mutuo, CRL priced €50 million more of its social sustainability senior preferred bonds due 2027 (Ba1), according to a press release.
The company had previously issued €200 million of the 8 3/8% bonds on July 4 at 99.681.
The initial rate will reset to Euribor plus 497.4 basis points on the reset date, July 4, 2026.
Proceeds will be used to finance and/or refinance eligible social assets.
Credit Agricole CIB was the global coordinator on the original issue. The joint lead managers were Citigroup, Credit Agricole, Santander CIB and UBS Investment Bank.
The bonds count as regulatory capital.
The financial group is based in Lisbon.
| Issuer: | Caixa Central de Credito Agrícola Mutuo, CRL
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| Amount: | €50 million
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| Issue: | Social sustainability senior preferred bonds
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| Maturity: | July 4, 2027
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| Bookrunners: | Credit Agricole, Citigroup, Santander CIB and UBS Investment Bank
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| Counsel to issuer: | Linklaters LLP
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| Counsel to underwriters: | Allen & Overy LLP
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| Coupon: | 8 3/8% initial rate, resets to Euribor plus 497.4 bps on July 4, 2026
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| Call features: | Redeemable at par on reset date
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| Announcement date: | Aug. 1
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| Ratings: | Moody’s: Ba2
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| Distribution: | Regulation S
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| ISIN: | PTCCCMOM0006
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| Original issue: | €200 million of bonds issued on July 4
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