- 3 min
Crédit Agricole, the leading financial partner for the French economy, harnesses its banking and insurance expertise to support the cooperative group Agrial in its first listed private bond placement (Euro PP)
The cooperative agrifood group Agrial, a customer of Crédit Agricole Normandy, has completed its first Euro PP issue. This transaction, for a nominal total of €95 million, is the first private placement involving bonds listed on the European market to be carried out by a French agricultural cooperative group (Agrial) with no financial agency ratings.
This transaction highlights the relevance of investments by major institutional organisations to support growth projects for mid-market companies across France's various regions. Indeed, the proceeds from this issue will enable Agrial, a European-wide multi-specialist cooperative group with revenues of €3.6 billion, 10,000 employees and 10,000 farmer members, to optimise its financial structure, extend its debt maturity and support its growth.
This original financing solution illustrates the strength of the Crédit Agricole Group's model, confirming its ability to capitalise on resources and areas of expertise within its various entities in order to serve its customers. This inaugural issue, which will be vital for financing Agrial's growth, was led by Crédit Agricole CIB as the sole arranger on behalf of the Crédit Agricole Normandy Regional Bank, Agrial's longstanding banking partner. It was placed with Amundi on behalf of Crédit Agricole Assurances, which is continuing to diversify its investments with a growing focus on financing for France's regions, up to over €4 billion for the first half of 2013.
AGRIAL is a multi-specialist cooperative group with agricultural production and food processing activities in various sectors, from dairy to beverages, vegetables, poultry and meat. Based in Caen, France, the group is present in more than 10 countries, with 10,000 members, 10,000 employees and revenues of €3.6 billion in 2012.