CMS Bureau Francis Lefebvre advises Isodev, a new bank for SMEs, on its share issue to private investors

CMS Bureau Francis Lefebvre announced today that it advised Isodev on the legal and tax issues related to its share issue and on its compliance with banking and financial regulations.

Set up by Germain Simoneau, Patrick Touton and the former chairman of the BPCE supervisory board Philippe Dupont, Isodev offers a new approach to financing French micro-enterprises and SMEs that takes into account the structural change in the regulatory framework resulting from Basel III and Solvency II. By providing quasi-equity capital (in the form of non-voting loan stock) to finance acquisitions of productive assets, Isodev enables SMEs to protect their cash reserves and makes it easier for them to obtain bank financing for their general corporate needs. These investments will be funded by issuing bonds to institutional investors, thereby allowing Isodev to act as a conduit between French savings in long-term insurance products and regional SMEs operating in the real economy.

CMS Bureau Francis Lefebvre acted as legal and tax advisor to Isodev in its share issue to several French business leaders and entrepreneurial icons (François Pinault, Bernard Arnault, Vincent Bolloré, Jean-Charles Naouri and Philippe Houzé), who were attracted to the idea of helping French micro-enterprises and SMEs invest in productive assets.

Legal advice was provided by partner Jean-Robert Bousquet and lawyers Alexandre Morel and Cécile Leclerc from CMS Bureau Francis Lefebvre’s Corporate Department.

Tax advice was provided by partner Hubert Bresson and lawyer Stéphanie Riou.

Advice on bank regulations was provided by partner Jérôme Sutour and lawyers Alexandre Marion and Marie-Laurence Hily.

Financial advice was provided by Nadine Veldung, managing partner, and Laurence de Rosame from DC Advisory.

For more information, please contact:

• Nicolas Merigeau, NewCap
  nmerigeau@newcap.fr
  +33 1 44 71 94 98
  
• Florence Jouffroy / Laetitia Mostowski,
  CMS Bureau Francis Lefebvre
  Florence Jouffroy, Laetitia Mostowski
  +33 1 47 38 40 32 / 40 74