Shearman & Sterling represented Merrill Lynch International, BNP Paribas and Crédit Agricole Corporate and Investment Bank as joint bookrunners and representatives of several managers in connection with an issue of €750 million 3.50% guaranteed notes due June 2020 by CDP Financial Inc., a subsidiary of the Caisse de dépôt et placement du Québec (the "Caisse"). The notes were guaranteed by the Caisse.

The Caisse is the largest public sector institutional fund manager in Canada, based on assets under management, and is a mandatary of the Government of the Province of Québec.

The Shearman & Sterling team of lawyers in the firm's London, Toronto and New York offices was led by finance partner Mei Lian and capital markets partner Christopher Cummings. They were assisted by associate Leona McManus and trainee solicitor Richard Porter. Tax advice was provided by partners Bernie Pistillo and Iain Scoon assisted by associates Derek Kershaw and James Leslie.