CDP Financial’s C$1.25 Billion Senior Notes Offering

Shearman & Sterling represented the agents in the offering.

CDP Financial Inc. executed its investment-grade Rule 144A/Regulation S offering of C$1.25 billion aggregate principal amount of 1.500 percent Senior Notes due 2026 under its $20 billion Senior Notes Program. Notes issued under the program are fully and unconditionally guaranteed by Caisse de dépôt et placement du Québec (Caisse), parent company of CDP Financial Inc.

CIBC Capital Markets, National Bank Financial Markets, RBC Capital Markets, BMO Capital Markets, Casgrain & Company Limited, Desjardins Capital Markets, HSBC, Laurentian Bank Securities, Scotiabank and TD Securities acted as agents in the offering.

Caisse is one of Canada’s leading institutional asset managers, based on assets under management, and is a mandatary (a limited, agent-like status) of the Government of Québec. As of June 30, 2021, it held C$389.7 billion in net assets. Caisse is, by law, the sole asset manager for the majority of the public-sector pension and insurance plans of the Province of Québec.

The Shearman & Sterling team included partner Jason Lehner (Picture), associate Ryan Robski, associate Nicole Bennewies, and associate Josh Lokko.

Involved fees earner: Nicole Bennewies – Shearman & Sterling; Jason Lehner – Shearman & Sterling; Ryan Robski – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: BMO Capital Markets; Casgrain & Company Limited; CIBC Capital Markets; Desjardins Capital Markets; HSBC; Laurentian Bank Securities Inc.; National Bank Financial Inc.; RBC Capital Markets; Scotiabank; TD Securities;