Shearman And Sterling

News July 23, 2014

Shearman & Sterling Advises on CDP Financial Inc.’s $2 Billion Senior Notes Offering

Shearman & Sterling represented Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman, Sachs & Co., as joint bookrunning managers, in connection with CDP Financial Inc.’s investment-grade Rule 144A/Regulation S offering of $2 Billion aggregate principal amount of 3.15% Senior Notes due 2024, fully and unconditionally guaranteed by Caisse de dépôt et placement du Québec (“La Caisse”).

La Caisse is one of the largest institutional asset managers in Canada and North America, based on assets under management, and is a mandatary (agent) of the Government of Québec. As of December 31, 2013, it held $200.1 billion in net assets. La Caisse is by law the sole asset manager for the majority of the public-sector pension and insurance plans of the Province of Québec.

The Shearman & Sterling team included partners Jason Lehner (Toronto/New York-Capital Markets) and Laurence Crouch (Palo Alto-Tax) and associates Kevin Roggow (Toronto-Capital Markets), Ana Aur (Toronto-Capital Markets), Drew Valentine (Toronto-Capital Markets) and Alice Townes (Palo Alto-Tax).