Natixis sole bookrunner and structurer of Pays de la Loire region issue
Natixis has just completed the Pays de la Loire bond issue, which was part of the regional plan to combat the economic crisis, calling on inhabitants of the region who wish to support the economy. This €259m regional plan to combat the economic crisis, partly financed by the issue, will fund the construction of four new high schools, training centers, research equipment, transport infrastructure, and also support investment from the region’s towns and cities.
Natixis structured and managed this inaugural operation, which was distributed by the Caisses d’Epargne and Banques Populaires networks, along with the other main French retail banks.
This 6-year issue with a coupon of 4% met with resounding success when it was launched on 21 September. Demand was very strong from the outset right until the subscription period ended on 9 October. Overall, close to 146,000 shares were bought by individual investors for a total of €73m. The remainder of the issue (10%) was allocated to regional institutional investors.
This operation confirms Natixis’ leadership on the French local authority bond market.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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