BPCEGP 4.450% 17Dec2025 Corp (SGD)

Bond Factsheet

Matured/ Called

BPCE SA

Indicative

Full Lot

Bid Price

100.286

Change in Bid Price

Bid Yield (%)

4.431 %

Change in Bid Yield

Ask Price

100.541

Change in Ask Price

Ask Yield (%)

4.373 %

Change in Ask Yield

Indicative price as of 18 Dec 2020, 12:00am

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Bond Information

BPCE operates as a bank. The Bank provides personal banking, insurance, loans, real estate financing, asset and wealth management, payments, and investment solutions for individuals, not-for-profit associations, and businesses. BPCE serves customers worldwide.

Bond Issuer

BPCE SA

Guarantor

Announcement Date

10 Jun 2015

Issue Date

17 Jun 2015

Maturity Date

17 Dec 2025

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

4.450

Coupon Type

Variable

Annual Coupon Rate

4.450

Coupon Frequency

Semi Annually

Seniority

Subordinated

Capital Structure

Subordinated

Reference Rate

Reset Rate=5-year SGD SOR + Initial Margin (2.16%)
Reset Date=17Dec2020)

ISIN

FR0012799187

CUSIP

EK9695363

Bond Currency

SGD

Total Issue Size

Outstanding Issue Size

150,000,000

Min. Investment Quantity (Nominal)

SGD 250,000

Incremental Quantity (Nominal)

SGD 250,000

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Banks

Issuer Credit Rating (S&P/ Fitch)

***/ A+

Bond Credit Rating (S&P/ Fitch)

***/ A-

Shariah Compliant

Exchange Listed

Others

Bond Feature(s)

Loss Absorption

French banking law allows authorities to cancel, write-down or convert into equity failing banks' subordinated instruments (such as the Notes), in accordance with their seniority. Failing banks are defined as those that, currently or in the near future (i) no longer comply with regulatory capital requirements, (ii) are not able to make payments that are, or will be imminently, due, or (iii) require extraordinary public financial support. Conversion or write-down ratios are decided upon by the French resolution authority (the "ACPR") on the basis of a "fair and realistic" assessment

Issuer Call

Redemption at the option of the Issuer:
The Issuer may, at its option (but subject to the provisions of Condition 6.7 (Conditions to redemption prior to Maturity Date)) and having given not more than 45 nor less than 30 calendar days" notice to the Holders in accordance with Condition 13 (Notices) (which notice shall be irrevocable), redeem all (but not some only) of the outstanding Notes on the Call Date at their Redemption Amounts, together with accrued interest (if any) thereon.

"Call Date" is on 17 December 2020.
Redemption upon the occurrence of a Capital Event:
Upon the occurrence of a Capital Event, the Issuer may, at its option (but subject to the provisions of Condition 6.7 (Conditions to redemption and purchase prior to Maturity Date)) at any time and having given not more than forty-five (45) nor less than thirty (30) calendar day notice to the Holders in accordance with Condition 13 (Notices) (which notice shall be irrevocable), redeem all (but not some only) of the outstanding Notes at their Redemption Amounts, together with accrued interest (if any) thereon.

"Capital Event" means a change in the regulatory classification of the Notes that was not reasonably foreseeable by the Issuer at the Issue Date, as a result of which the Notes are fully excluded from the Tier 2 Capital of the Issuer, provided that such exclusion is not as a result of any applicable limits on the amount of Tier 2 Capital.

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