Linklaters advises the banks’ syndicate on the benchmark "AT1" bonds issue by La Banque Postale
Linklaters has advised the banks’ syndicate composed of HSBC Bank plc, as Global Coordinator, Joint Bookrunner and Structuring Advisor and, Crédit Agricole Corporate and Investment Bank, Credit Suisse Securities (Europe) Limited, J.P. Morgan Securities plc, Natixis and Société Générale, as Joint Bookrunners on the "AT1" bonds issue of an aggregate nominal amount of €750,000,000 by La Banque Postale.
The bonds are perpetual obligations of the Issuer and bear interest at a fixed annual rate of 3.875 per cent. payable semi-annually with a first call date set 7 years after their issue date.
This strategic transaction aims at improving the capital adequacy of La Banque Postale, strengthening its prudential own funds and diversifying its investors’ portfolio.
The Linklaters team was led by Véronique Delaittre, partner, accompanied by Antoine Galvier, associate. Nadine Eng, senior associate intervened on tax related matters.