Linklaters, advising the banking syndicate led by RBC Capital Markets as Joint-Bookrunner, and A&O Shearman, advising BPCE, acted in connection with BPCE’s bond issuance of an aggregate nominal amount of CAD 700 million, placed in Canada (Maple Bonds), of Tier 2 Capital Subordinated Fixed to Floating Rate Notes due 2036 callable in 2031, issued by BPCE S.A.
This issuance is intended to further strengthen BPCE’s regulatory capital base. The Tier 2 Subordinated Notes bear interest at a fixed rate of 4.68% per annum until 15 April 2031, payable semi-annually. The interest rate will then be calculated at a rate determined on the basis of the then applicable CORRA (Canadian Overnight Repo Rate Average) rate plus a margin, payable quarterly.
The Linklaters team in Paris and London comprised Véronique Delaittre, Partner, Pierre-André Destrée, Counsel, Vidhu Gupta and Amelia Rice, Managing Associates, and Emma Elbaz and Zoe Stennett, Associates.
The A&O Shearman team was led by Theo Trayhurn and Julien Sébastien, Partners, Sakhi Shah, Marc Ghorayeb and Anisa Kahn, Associates.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.