As part of this transaction, a contribution (apport partiel d’actif) of Caisse Fédérale du Crédit Mutuel Nord Europe (CFCMNE) was implemented under French spin-off legal regime to Banque Fédérative du Crédit Mutuel (BFCM), resulting in the universal succession of dedicated assets and liabilities to BFCM.
This contribution resulted in BFCM being substituted as the issuer for all outstanding bonds of CFCMNE.
In accordance with the law, this operation completed after the delivery of regulatory approvals, consultations of the bondholders and the approval of the extraordinary general meetings of CFCMNE and BFCM.
About Crédit Mutuel Nord Europe
Crédit Mutuel Nord Europe is a mutualist, local bank with 250 points of sale across seven departments in northern France: Aisne, Ardennes, Marne, Nord, Oise, Pas-de-Calais and Somme. It supports its customers and members at each stage of their life through the ,expertise of its advisers and the diversity of its offering. Committed to its regions, it operates on several markets, including private individuals, associations, professionals, companies and farmers.
About Crédit Mutuel Alliance Fédérale
One of France’s leading bankinsurers, with more than 75,0001 employees serving more than 291 million customers, Crédit Mutuel Alliance Fédérale’s 4,500 branches offer a diversified range of services to private individuals, local professionals and companies of all sizes. Ranking among Europe’s strongest banking groups, its equity totaled €51.822 billion and its CET1 ratio was 18.3% as of June 30, 2021.
Crédit Mutuel Alliance Fédérale is made up of the following Crédit Mutuel federations: Centre Est Europe (Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France) and Nord Europe (Lille).
Crédit Mutuel Alliance Fédérale also includes Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, EuroInformation, Assurances du Crédit Mutuel (ACM), Targobank, Cofidis, Banque Européenne du Crédit Mutuel (BECM), Banque de Luxembourg, Banque Transatlantique and Homiris.
1 Estimated as at January 1, 2022, including data for Fédération Crédit Mutuel Nord Europe
2 Estimated as at June 30, 2021, excluding data for Fédération Crédit Mutuel Nord Europe