BPCE tenders for four note series, aiming to push out debt maturities

By Susanna Moon

Chicago, March 8 - Groupe BPCE said it began a tender offer for four series of notes, which will run for about a week until next Friday.

Covered by the offer are the following notes:

• €200 million of floating-rate notes due Nov. 27, 2012, issued on Nov. 27, 2009, of which €63 million is outstanding;

• €500 million of 2.625% notes due Dec. 7, 2012, issued on Dec. 7, 2009;

• €925 million of floating-rate notes due Oct. 29, 2013, issued on Oct. 29, 2010 and on Jan. 30; and

• €1.5 billion of floating-rate notes due May 27, 2013, issued on May 27, 2011.

The tender offer will end at noon ET on March 16.

The offer is part of the "group's debt redemption management policy, with the aim to extend the average maturity of its debt within the context of the new regulatory constraints that will apply to banks," according to a press release.

For more information, call BNP Paribas Securities Services at +33 1 57 43 10 77 or e-mail paris.bp2s.information.agent@bnpparibas.com.

The retail bank is based in Paris.

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