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15/05/2012
CMS Bureau Francis Lefebvre advised Natixis in its role as lead manager of the inaugural bond issue carried out by Société Nationale Immobilière (SNI), for its part advised by Weil Gotshal & Manges. The 20-year bonds totalling €250 million pay interest at a variable rate based on the 10-year CMS rate.
This is the first time that SNI has tapped the bond markets. The proceeds will be used to finance the construction of rental properties for middle income tenants under its 2012-2013 growth plan.
The prospectus was approved on 2 May and the bonds were admitted for trading on the Euro MTF market on 3 May.
The CMS Bureau Francis Lefebvre team included Marc-Etienne Sébire, head of the Capital Markets group, and Rosetta Ferrère.
The Weil Gotshal & Manges team comprised Frédéric Cazals, Partner, and Jonathan Bay.
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