Credit Agricole Assurances Redeems EUR 750 Million Subordinated Notes

Crédit Agricole Assurances has announced the redemption of 2014 undated subordinated notes worth EUR 750 million. The redemption is part of the bank's efforts to strengthen its financial position. The notes were issued in 2014 and had a principal amount of EUR 1 billion. The redemption will be funded from the bank's existing resources.

Fortis Inc. (TSX: FTS) has successfully closed its offering by private placement of $750 million aggregate principal amount of 5.100% fixed-to-fixed rate subordinated notes due December 4, 2055 [1]. The notes were issued to strengthen the company's financial position and were sold through a syndicate of agents co-led by BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets Inc., and RBC Dominion Securities Inc. [1].

The notes, which have not been and will not be registered under the U.S. Securities Act of 1933, as amended, were sold to a group of institutional investors and were funded from the company's existing resources [1]. The proceeds from the offering will be used to support Fortis' ongoing operations and strategic initiatives.

Fortis, a diversified leader in the North American regulated electric and gas utility industry, reported 2024 revenue of $12 billion and total assets of $73 billion as at June 30, 2025 [1]. The company serves utility customers in five Canadian provinces, ten U.S. states, and the Caribbean through its 9,700 employees [1].

The closing of this offering is a significant milestone for Fortis, demonstrating the company's ability to access capital markets and strengthen its financial position. Investors should closely monitor the company's progress and future announcements to gauge the impact of this transaction on its financial health and strategic direction.

References:
[1] https://finance.yahoo.com/news/fortis-inc-announces-closing-offering-141700284.html