Shearman & Sterling represented BMO Capital Markets, CIBC Capital Markets, Desjardins Capital Markets, National Bank Financial Markets, Casgrain, HSBC, Laurentian Bank Securities, RBC Capital Markets, Scotiabank and TD Securities, as agents, in connection with CDP Financial’s investment-grade Rule 144A/Regulation S offering of C$1.5 billion aggregate principal amount of 3.950% Senior Notes due 2029 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.

The Shearman & Sterling team included partner Jason Lehner (Toronto/New York – Capital Markets) and associates Ryan Robski (Toronto – Capital Markets), Corinna Pilon (Toronto – Capital Markets) and Daniel Choi (Toronto – Capital Markets).

The Team