Credit Agriole plans stg/euro Tier 1 bond

French bank Credit Agriole is planning a two-part Tier 1 benchmark bond totalling 850 million euros ($1.3 billion), IFR reported.

The deal will be split in two tranches, one of 500 million euros and one of 300 million pounds ($479 million), said IFR Markets, a Thomson Reuters online news and market analysis service.

The lead managers on the transaction are Barclays, Calyon and UBS. They have already set coupon guidance on the two tranches. The euro tranche is 8-8.25 percent, while the sterling is 8.125-8.375 percent, IFR said.

Earlier on Wednesday, Credit Agricole said it would repay this month 3 billion euros in state support it received at the height of the credit crisis. ($1=.6717 Euro / $1=.6259 Pound)