RMBS Securitisation: Hogan Lovells advises Crédit Agricole

Hogan Lovells advised Crédit Agricole SA on its securitisation of mortgages granted by the group's 39 regional banks for an amount of 1,136,400,000 euros.

Crédit Agricole SA and Crédit Agricole Corporate and Investment Bank acted as Arrangers and Coöperative Rabobank U.A., Crédit Agricole Corporate and Investment Bank and Santander Global Corporate Banking acted as Joint Lead Managers.

The Senior Notes were issued by FCT Crédit Agricole Habitat 2017, a French securitisation debt fund (fonds commun de titrisation) and were listed on Euronext Paris.  The Class A Notes were rated AAA(sf) by DBRS, Aaa(sf) by Moody's and AAA(sf) by S&P.

In addition, FCT Crédit Agricole Habitat 2017 issued a tranche of subordinated notes for an amount of 136,400,000 euros.

Hogan Lovells' team was led by Sharon Lewis (partner, Global Head - Finance Practice Group), assisted by Reza Mulligan (counsel), Marouane El Idrissi (senior associate), Annabel Bratby (associate) and Gabrielle Lawrence; Katia Merlini (partner) and Ailsa Davies (associate) on the swap related aspects;  Bruno Knadjian (partner) et Pierre Denizot-Heller (associate) on the tax aspects.

The joint lead managers were advised by Linklaters.

"We were delighted to advise Crédit Agricole on this transaction and hope that this success will continue on the RMBS securitisation market" Sharon Lewis.

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