Shearman And Sterling

News October 19, 2021

CDP Financial Inc.’s C$1.25 Billion Senior Notes Offering under its Senior Notes Program

Shearman & Sterling represented 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, as agents, in connection with CDP Financial Inc.’s 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.

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.

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