Shearman & Sterling represented Goldman, Sachs & Co., Morgan Stanley, BofA Merrill Lynch and RBC Capital Markets as representatives of the several initial purchasers in connection with an offering of $2,000,000,000 3.00% Senior Notes due 2014, $1,750,000,000 4.40% Senior Notes due 2019 and $1,250,000,000 5.60% Senior Notes due 2039 by CDP Financial Inc. and guaranteed by the Caisse de dépôt et placement du Québec. The Caisse is the largest public sector institutional fund manager in Canada, based on assets under management.

This is the largest non-government guaranteed offering by any Canadian issuer in US dollars to date.

The following Shearman & Sterling team advised the initial purchasers in the transaction: partners Laurence Crouch (Menlo Park–Tax), Douglas McFadyen (New York–Tax) and Nathan J. Greene (New York–Asset Management); and associates Hugo Sin (Toronto–Capital Markets), Sonja Sun (Toronto–Capital Markets), Anil Kalia (Menlo Park–Tax), Jesse Kanach (New York–Asset Management), Steven Homan (New York–Asset Management), Sheila Lavu (New York–Capital Markets) and Oliver Loxley (New York–Capital Markets).