CMS BFL and Clifford Chance on the first issue of OSEO

CMS Bureau Francis Lefebvre and Clifford Chance legal advisers on the €1 billion first issue of OSEO

CMS Bureau Francis Lefebvre advised BNP Paribas, Crédit Agricole CIB, HSBC and Natixis acting as joint lead managers, with respect to the €1 billion first issue of société anonyme OSEO benefiting from the guarantee of the établissement public à caractère industriel et commercial OSEO. This issue was made under SA OSEO's EMTN programme set up in July 2011. Clifford Chance advised SA OSEO and EPIC OSEO.

In spite of particularly tough market conditions, the SA OSEO, rated Aaa by Moodys, succeeded in raising, with the assistance of the banks, €1 billion with mainly French, but also British and Scandinavian investors, at a 3.125% rate and a 12-year maturity. Since last April, it is the first benchmark issue of a French agency.

The CMS Bureau Francis Lefebvre team was made up ofMarc-Etienne Sébire, Head of Capital Markets, andRosetta Ferrère, with respect to capital markets aspects, andFrançois Tenailleau,, partner, with respect to public law aspects.

The Clifford Chance team comprised Jonathan Lewis, partner, assited by Vincent Hatton, counsel, Sophie Guilhem-Ducléon and Marie-Caroline Schwartz with respect to capital markets aspects.

For further information, please contact :
CMS Bureau Francis Lefebvre
Florence Jouffroy / Tel: +33 1 47 38 40 32
Laetitia Mostowski / Tel: +33 1 47 38 40 74