Linklaters, advising the banking syndicate led by Société Générale Corporate & Investment Banking as Global Coordinator, Sole Structuring Advisor & Sole Bookrunner, acted in connection with Société Générale’s bond issuance of an aggregate nominal amount of EUR 750 million, of AT1 Undated Deeply Subordinated Fixed Rate Resettable Notes listed on the Luxembourg Stock Exchange.
The Deeply Subordinated Notes bear interest at a fixed rate of 6% per annum until the first reset date set for 13 February 2032, payable semi-annually on 13 February and 13 August of each year. From each reset date (13 February 2032 and thereafter every five years, or a multiple of five years, from that date), the interest rate will be calculated on the basis of the then relevant 5-year Mid-Swap rate, plus a margin, payable semi-annually.
The Linklaters Capital Markets team in Paris comprised Véronique Delaittre, Partner, Pierre-André Destrée, Counsel, and Emma Elbaz, Associate. Leïla Juvin, Partner, and Colyne Nguyên, Associate, were in charge of tax aspects.
