ABN AMRO, Natixis, and UniCredit complete securitisation of French residential loan receivables with issuance through BPCE Home Loans FCT 2024 Green UoP of €750 million Class A Notes qualifying as Secured Green Standard Bonds
Client(s) ABN AMRO Bank N.V., Natixis, and UniCredit Bank GmbH
Jones Day advised ABN AMRO Bank N.V., Natixis, and UniCredit Bank GmbH, as joint lead managers, and Natixis, as interest rate swap counterparty, in connection with the securitisation of French residential loan receivables originated by certain Banques Populaires and Caisses d'Epargne belonging to the Groupe BPCE through the establishment of a French fonds commun de titrisation "BPCE Home Loans FCT 2024 Green UoP" with BPCE and Natixis, as joint arrangers. The €750 million Class A Notes rated AAAsf by Fitch Ratings Ireland Limited – Succursale française and an Aaa (sf) by Moody's France SAS issued on October 29, 2024 are listed on Euronext Paris. The securitisation transaction was notified to ESMA as "STS" (simple, transparent, and standardised) in accordance with the EU Regulation 2017/2402 dated December 12, 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent, and standardised securitisation. Prime Collateralised Securities (PCS) EU SAS was appointed as third party verifier to verify the compliance of the securitisation transaction with the STS criteria, and to provide for CRR and LCR assessments. The Class A Notes have been structured with a view to comply with Groupe BPCE's sustainable development funding program and more specifically its framework for the issuance of green notes published in the dedicated section of BPCE's website (as amended from time to time), and to qualify as 'Secured Green Standard Bonds' as defined by Appendix 1 to the ICMA Green Bond Principles (GBP) (as at the issue date).
