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Inaugural bond issue by the Communauté Urbaine Marseille Provence Métropole

07/12/2012


Inaugural bond issue by the Communauté Urbaine Marseille Provence Métropole: CMS Bureau Francis Lefebvre selected to advise HSBC France

CMS Bureau Francis Lefebvre acted as legal advisor to HSBC France, lead manager for the Communauté Urbaine Marseille Provence Métropole’s €97 million inaugural bond issue. The 15-year bonds pay interest at 3.875% and are listed on NYSE Euronext Paris.

The Communauté Urbaine is an umbrella municipal authority for the city of Marseille and its suburbs. The bond issue was launched to optimize management of the authority’s debt and diversify its financing sources.

The interest rate for this inaugural issue was very low, reflecting investors’ confidence in the authority’s credit quality over a long period (15 years) and confirming the appetite among foreign investors - particularly German - for high quality French public sector debt issues.

The CMS Bureau Francis Lefebvre team included Marc-Etienne Sébire, Capital Markets Manager, Rosetta Ferrère (for the capital markets aspects), François Tenailleau, Partner and Kawthar Ben Khelil (for the public law aspects).


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