CREDIT AGRICOLE SA: Crédit Lyonnais announces the results of the general meetings of the holders of its Undated participating notes (...)

Press Release

Villejuif, on November 16, 2021

 

CRÉDIT LYONNAIS ANNOUNCES

THE RESULTS OF THE GENERAL MEETINGS OF THE HOLDERS OF ITS

Undated participating notes issued on October 22, 1984

(ISIN: FR0000140071)

Undated subordinated notes issued on November 4, 1985

(ISIN: FR0000584997)

AND

THE REDEMPTION OF SUCH NOTES AND OF ITS

Undated subordinated notes issued on January 5, 1987

(ISIN: FR0000165912)

• Crédit Lyonnais (the “Issuer”) hereby announces the results of the general meetings of holders (each a “General Meeting of Holders”) of the:
  • undated participating notes (titres participatifs) issued on October 22, 1984, with an amount outstanding of approximately €60 million as of June 30, 2021 (ISIN: FR0000140071) (the “1984 TPs”); and
  • undated subordinated notes issued on November 4, 1985, with an amount outstanding of approximately €61 million as of June 30, 2021 (ISIN: FR0000584997) (the “1985 TSDIs”),

each convened on November 15, 2021 on first meeting at 20 avenue de Paris, 94811 Villejuif, France.

The purpose of the General Meetings of Holders was to consider certain amendments to the terms and conditions of the 1984 TPs and 1985 TSDIs, in order to insert therein an early redemption option at par, exercisable by the Issuer, as detailed in the notices of meeting published in the Bulletin des Annonces Légales Obligatoires, respectively on October 25, 2021 and October 27, 2021, to which the proposed amended redemption clause was attached.

Each of the General Meeting of Holders adopted the resolutions that were submitted to its vote.

Consequently, Crédit Lyonnais will pay to each holder of the 1984 TPs and the 1985 TSDIs, a cash amount in euros equal to 0.05% of the total nominal amount of the 1984 TPs or the 1985 TSDIs (as the case may be) held by such holder, regardless of whether such holder has voted in favour of the amendments presented to the relevant General Meeting of Holders and regardless of whether such holder did not vote at all (the “Participation Fee”).

The payment of the Participation Fee is expected to take place on or about November 22, 2021 and the right of each holder to receive such one-off cash amount shall be evidenced by the entries in the books of the relevant account holder of the name of such holder on November 15, 2021 at 00.01 a.m. (Paris Time).

• As a result of the foregoing, Crédit Lyonnais hereby announces its decision to redeem all of the 1984 TPs and the 1985 TSDIs in accordance with the early redemption options that have been introduced in the terms and conditions of the 1984 TPs and the 1985 TSDIs. The 1984 TPs and the 1985 TSDIs will each be redeemed with effect on November 26, 2021, at the outstanding nominal amount thereof together with any accrued interest thereon.
   
• In the furtherance of the foregoing, Crédit Lyonnais also hereby announces its decision to redeem all of its perpetual undated subordinated notes issued on January 5, 1987, of which the amount outstanding was approximately €80 million as of June 30, 2021 (ISIN: FR0000165912) (the “1987 TSDIs”). The 1987 TSDIs will be redeemed with effect on January 5, 2022, at 103% of their outstanding nominal amount together with any accrued interest thereon.

 

The notices relating to the redemption of the 1984 TPs, the 1985 TSDIs and the 1987 TSDIs are attached to this press release. They will also formally be sent to the holders of the 1984 TPs, the 1985 TSDIs and 1987 TSDIs (respectively), in accordance with the terms and conditions of the notes they hold.

 

In accordance with the applicable regulation, Crédit Lyonnais has requested and obtained the prior permission of the European Central bank to redeem the 1984 TPs, the 1985 TSDIs and the 1987 TSDIs early.

 

For more information on Crédit Lyonnais, please visit its website: https://www.lcl.fr/decouvrir-lcl/informations-financieres.

 

 

WARNING

 

This press release does not constitute an offer to purchase, or the solicitation of an offer to sell, the 1984 TPs, the 1985 TSDIs or the 1987 TSDIs in the United States, Canada, Australia or Japan or in any other jurisdiction. The distribution of this press release in certain jurisdictions may be restricted by law. Persons into whose possession this press release comes are required to inform themselves of and observe any such restrictions.

 

No communication or information relating to the redemption of the 1984 TPs, the 1985 TSDIs or the 1987 TSDIs may be distributed to the public in any jurisdiction in which registration or approval is required. No action has been or will be taken in any country where such action would be required. The redemption of the 1984 TPs, the 1985 TSDIs or the 1987 TSDIs may be subject to specific legal and regulatory restrictions in certain jurisdictions. Crédit Lyonnais disclaims all liability for any violation by any person of such restrictions.

 

This announcement is a marketing communication; and neither this press release nor any notice or other document made public and/or delivered, or which may be made public and/or delivered to holders of the 1984 TPs, the 1985 TSDIs or the 1987 TSDIs in connection with the redemption of such instruments is or is intended to be a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (as amended, the “Prospectus Regulation”). No prospectus will be published in connection with the redemption of the 1984 TPs, the 1985 TSDIs or the 1987 TSDIs for the purposes of the Prospectus Regulation.

 

This press release does not and shall not under any circumstances constitute an offer of securities to the public by Crédit Lyonnais or a solicitation of the public in connection with any offer in any jurisdiction, including France.

 

* The ISIN number is included solely for the convenience of holders of the securities. No warranty is given as to the accuracy or correctness of the ISIN number as contained herein.

 

 

ANNEX 1

 

CREDIT LYONNAIS

société anonyme established under French law

with a share capital of €2,037,713,591

Registered office: 18 rue de la République, 69002 Lyon

954 509 741 RCS Lyon

(the “Issuer”)

NOTICE OF FULL REDEMPTION
TO THE NOTEHOLDERS OF

391,505 undated participating notes (titres participatifs perpétuels) issued on October 22, 1984, with a total outstanding amount of approximately €60,000,000

 

ISIN No. FR0000140071

Notice is hereby given that all of the outstanding 391,505 undated participating notes (titres participatifs perpétuels), which total outstanding amount was approximately €60,000,000 as at June 30, 2021 (the “Notes”) issued by the Issuer on October 22, 1984 (ISIN: FR0000140071) will be redeemed by the Issuer (the “Redemption”) pursuant to the clause entitled Remboursement in the terms and conditions of the Notes, set out in an information memorandum (note d’information) which was granted the visa n° 84-230 by the Commission des opérations de bourse on September 18, 1984, as amended by a resolution of the holders of the Notes taken at a general meeting held on November 15, 2021 (the “General Meeting”) (the “Terms and Conditions”).

The Redemption will occur on November 26, 2021 (the “Redemption Date”) and the Notes will be redeemed at their outstanding nominal amount plus accrued but unpaid interest thereon to (but excluding) the Redemption Date (the “Redemption Amount”).

The Notes may be surrendered for payment of the Redemption Amount in accordance with the standard procedures of Euroclear, Euroclear France and Clearstream Luxembourg.

In addition, the Issuer will pay to each holder of Notes a cash amount in euros equal to 0.05% of the total nominal amount of the Notes held by such holder, regardless of whether such holder has voted in favour of the amendments presented to the General Meeting and regardless of whether such holder did not vote at all (the “Participation Fee”).

The payment of the Participation Fee is expected to take place on or about November 22, 2021 and the right of each holder of Notes to receive such one-off cash amount shall be evidenced by the entries in the books of the relevant account holder of the name of such holder on November 15, 2021 at 00.01 a.m. (Paris Time).

Date: November 16, 2021        

By: Crédit Lyonnais

 

 

ANNEX 2

 

 

CREDIT LYONNAIS

société anonyme established under French law

with a share capital of €2,037,713,591

Registered office: 18 rue de la République, 69002 Lyon

954 509 741 RCS Lyon

 

(the “Issuer”)

NOTICE OF FULL REDEMPTION
TO THE NOTEHOLDERS OF

60,813,271 undated subordinated notes (titres subordonnés à durée indéterminée) issued on November 4, 1985, with a total outstanding amount of approximately €61,000,000

 

ISIN No. FR0000584997

Notice is hereby given that all of the outstanding 60,813,271 undated subordinated notes (titres subordonnés à durée indéterminée), which total outstanding amount was approximately €61,000,000 as at June 30, 2021 (the “Notes”) issued by the Issuer on November 4, 1985 (ISIN: FR0000584997) will be redeemed by the Issuer (the “Redemption”) pursuant to the clause entitled Remboursement, clause de subordination contained in the terms and conditions of the Notes, set out in an information memorandum (fiche d’information) which was granted the visa n° 85-302 by the Commission des opérations de bourse on October 4, 1985, as amended by a resolution of the holders of the Notes taken at a general meeting held on November 15, 2021 (the “General Meeting”) (the “Terms and Conditions”).

The Redemption will occur on November 26, 2021 (the “Redemption Date”) and the Notes will be redeemed at their outstanding nominal amount plus accrued but unpaid interest thereon to (but excluding) the Redemption Date (the “Redemption Amount”).

The Notes may be surrendered for payment of the Redemption Amount in accordance with the standard procedures of Euroclear, Euroclear France and Clearstream Luxembourg.

In addition, the Issuer will pay to each holder of Notes a cash amount in euros equal to 0.05% of the total nominal amount of the Notes held by such holder, regardless of whether such holder has voted in favour of the amendments presented to the General Meeting and regardless of whether such holder did not vote at all (the “Participation Fee”).

The payment of the Participation Fee is expected to take place on or about November 22, 2021 and the right of each holder of Notes to receive such one-off cash amount shall be evidenced by the entries in the books of the relevant account holder of the name of such holder on November 15, 2021 at 00.01 a.m. (Paris Time).

Date: November 16, 2021        

By: Crédit Lyonnais

ANNEX 3

 

 

CREDIT LYONNAIS

société anonyme established under French law

with a share capital of €2,037,713,591

Registered office: 18 rue de la République, 69002 Lyon

954 509 741 RCS Lyon

 

(the “Issuer”)

NOTICE OF FULL REDEMPTION
TO THE NOTEHOLDERS OF

80,335,505 undated subordinated notes (titres subordonnés à durée indéterminée) issued on January 5, 1987, with a total outstanding amount of approximately €80,000,000

ISIN No. FR0000165912

Notice is hereby given that all of the outstanding 80,335,505 undated subordinated notes (titres subordonnés à durée indéterminée), which total outstanding amount was approximately €80,000,000 as at June 30, 2021 (the “Notes”) issued by the Issuer on January 5, 1987 (ISIN: FR0000165912), will be redeemed by the Issuer pursuant to the clause entitled Remboursement, clause de subordination contained in the terms and conditions of the Notes, set out in an information memorandum (fiche d’information) which was granted the visa n° 86-528 by the Commission des opérations de bourse on December 3, 1986 (the “Terms and Conditions”) (the “Redemption”).

The Redemption will occur on January 5, 2022 (the “Redemption Date”) and the Notes will be redeemed at 103% of their outstanding nominal amount together with any accrued but unpaid interest thereon through (but excluding) the Redemption Date (the “Redemption Amount”).

The Notes may be surrendered for payment of the Redemption Amount in accordance with the standard procedures of Euroclear, Euroclear France and Clearstream Luxembourg.

Date: November 16, 2021        

By: Crédit Lyonnais

 

 

 

 

 

 

 

About LCL

LCL is a subsidiary of Crédit Agricole SA and is one of the largest retail banks in France. Its ambition is to be the benchmark urban bank for one in seven city dwellers, one in two small and intermediate-sized enterprises and one in three SMEs.

LCL offers a full range of everyday banking, credits, personal and property insurance and savings products, throughout metropolitan France, the French West Indies and French Guiana.

LCL offers "continuous banking" services, combining human and digital banking with 1,600 branches in the heart of cities, advisors available by telephone until early evening, its websites and its "LCL Mes Comptes" app.

LCL also includes LCL Banque Privée and LCL Banque des Entreprises et des Institutionnels.

LCL has 17,300 employees serving 6 million individual customers including 214,000 private banking customers, 342,000 professionals and 29,500 corporate and institutional clients.

 

LCL Press Contact Details

Julie TERZULLI Tel 01 42 95 10 61 @ julie.terzulli@lcl.fr

Brigitte NEIGE : 01 42 95 39 97 @ brigitte.neige@lcl.fr

 

Attachment

• LCL Press Release_16 nov 2021