Shearman And Sterling

News April 15, 2020

CDP Financial’s $2 Billion Senior Notes Offering

Shearman & Sterling represented Goldman Sachs International, J.P. Morgan Securities plc, RBC Capital Markets, LLC and TD Securities (USA) LLC, as agents, in connection with CDP Financial Inc.’s investment-grade Rule 144A/Regulation S offering of $2 billion aggregate principal amount of 1.000 percent senior notes due 2023 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, parent company of CDP Financial Inc.

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 at December 31, 2019, it held C$340.1 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.

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