Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2012 > News item |
Groupe BPCE buys back €822 million of note series due 2012 to 2013
By Susanna Moon
Chicago, March 21 - Groupe BPCE said it repurchased €822 million of four note series maturing between Nov. 27, 2012 and Oct. 29, 2013 in a senior debt cash buyback operation last Friday.
The move was part of BPCE's debt redemption management policy aimed at extending the average maturity of its debt "in view of the new regulatory constraints to be imposed on banking institutions," according to a press release.
The buyback was managed by Natixis.
Groupe BPCE said on March 8 that it began a tender offer for four series of notes, which would run for about a week until March 16.
Covered by the offer were 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 retail bank is based in Paris.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.