BNP Paribas launches its Programme for continuous issuance of saving certificates
Client(s) BNP Paribas Fortis SA/NV
Jones Day assisted BNP Paribas Fortis SA/NV, part of the BNP Paribas Group, in connection with the set-up of their Programme for the continuous issuance of savings certificates (“bons de caisse”/”kasbons”). Saving certificates are unsecured debt securities issued by banks on a continuous basis which, contrary to bonds, benefit from the protection of the Belgian deposit scheme granted by the Belgian Guarantee Fund (subject to certain limitations). Saving certificates are currently perceived as an interesting alternative to savings accounts (providing for a better remuneration with the same level of protection). The base Prospectus was approved on 4 June 2024 by the Belgian Financial Services and Markets Authority (FSMA). The first series of saving certificates under the Programme launched on 17 June 2024 for an expected amount of €100 million.