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BPCE completes €1 billion private French consumer loans asset-backed financing

January 2020

Client(s) BPCE SA

Jones Day advised BPCE on a private French consumer loans assets-backed financing through the establishment of a French fonds commun de titrisation (FCT) with compartments (BPCE Demeter FCT). The assets-backed financing was structured so as to create and replicate an exposure to a French consumer loans portfolio and not an exposure to BPCE Group. The first 10 compartments of BPCE Demeter FCT issued Senior Notes on January 20, 2020 for an aggregate amount of €1 billion privately placed. The Junior Notes were retained by each relevant originating bank belonging to the BPCE Group.

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