BPCE prints A$930 million in dual-tranche Kangaroo deal

Wednesday, 18 April 2018

Issuer name: Groupe BPCE
Issuer rating: A/A2/A
Pricing date: 18 April 2018
Settlement date: 26 April 2018
Lead managers: Mizuho Securities, National Australia Bank, Natixis, Nomura, TD Securities

Senior preferred tranche
Issue rating: as issuer
Maturity date: 26 April 2023
Volume: A$600 million (US$465.4 million)
Total outstanding in this line: A$600 million
Coupon type: FRN
Coupon rate: 3m BBSW +110bp
Issue/re-offer price: par
Margin to swap: 110bp/3m BBSW

Senior nonpreferred tranche
Issue rating: BBB+/NR/A
Maturity date: 26 April 2028
Volume: A$330 million
Total outstanding in this line: A$330 million
Coupon type: fixed
Coupon rate: 4.5%
Issue/re-offer price: 99.602%
Issue yield: 4.55%
Margin to swap: 175bp/s-q