Groupe BPCE: successful issue in the primary market with a covered bond of 1 billion euros

March 25, 2020

In financial markets disrupted by the crisis linked to the Covid-19 pandemic, Groupe BPCE is the first major European banking group to make a successful return to the bond market with a covered bond issue from its specialized issuer BPCE SFH (issue guaranteed by residential mortgages originated by its Banque Populaire and Caisse d'Epargne networks).

It is a five-year, one billion euro issue with a yield to investors of 0.258% per annum.

The bond issue was led-managed in particular by Natixis.

Nicolas Namias, Deputy Chief Executive Officer and Chief Financial Officer, Member of the Management Board of Groupe BPCE, made the following statement: “Groupe BPCE is fully mobilized to support the financing of the economy and allow its customers to get through this difficult period; we are delighted that the Group has been able to access the bond market, thus testifying to the quality of its signature, while also continuing to maintain the strong bond it has built with the many investors who trust the Group around the world.

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