BPCE to redeem €850 million, $200 million deeply subordinated notes

By Sarah Lizee

Olympia, Wash., Sept. 1 – BPCE announced the redemption of two series of deeply subordinated notes, one denominated in euros, the other in dollars.

The issuer will redeem its €850 million of deeply subordinated fixed-to-floating-rate notes on Oct. 30, according a notice from the issuer.

In a separate notice, the company said it will also redeem its $200 million of deeply subordinated floating-rate notes on Sept. 30.

All the notes will be repaid at their principal amount plus any amounts outstanding.

BPCE is a Paris-based provider of financial services.

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