BPCE $1.25 Billion Senior Non-Preferred Notes Offering

Davis Polk advised the joint book-running managers in connection with BPCE’s Rule 144A/Regulation S offering of $1.25 billion 2.375% senior non-preferred notes due 2025 under its $25 billion U.S. Medium-Term Note Program.

Headquartered in Paris, BPCE is the central institution of Groupe BPCE, one of the largest banking groups in France. Groupe BPCE provides a full range of banking and insurance activities through its two major Banque Populaire and Caisse d’Epargne cooperative banking networks and through its different subsidiaries. These activities include savings and investment solutions, cash management services, financing solutions, insurance and wholesale banking services.

The Davis Polk corporate team included partner Reuven B. Young and associates Andrew Rowe and Alexander W. Simmonds. Associate Stéphane Daniel provided certain French law advice. Associate Omer Harel provided U.S. tax advice. Members of the Davis Polk team are based in the London and Paris offices.