December 13, 2016 / 8:27 AM / in 8 months

Credit Agricole marketing first senior non-preferred

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LONDON, Dec 13 (IFR) - Credit Agricole has started marketing a euro 10-year senior non-preferred transaction at 125bp-130bp over mid-swaps, according to a lead.

The deal will mature on December 20 2026 and is expected to be rated Baa2/BBB+/A, and is a new form of senior debt that is expected to be copied across the European Union.

The notes are subject to bail-in, in accordance with the

European Bank Recovery and Resolution Directive under French Law.

Credit Agricole is sole bookrunner. Commerzbank, Goldman Sachs, HSBC, JP Morgan and Natixis are joint lead managers. (Reporting by Helene Durand; editing by Alex Chambers)

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