Shearman & Sterling represented Desjardins Capital Markets, RBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets, Casgrain & Company Limited, CIBC Capital Markets, HSBC, Laurentian Bank Securities and National Bank Financial Markets, as agents, in connection with CDP Financial’s investment-grade Rule 144A/Regulation S offering of C$1.25 billion aggregate principal amount of 3.80% Senior Notes due 2027 under its $20 billion Senior Notes Program (the 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.
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 June 30, 2022, it held C$392 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.
Special thanks to associate Daniel Choi (Toronto – Capital Markets) for hiscontribution to this publication.