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Crédit Immobilier de France (CIF) Group, BNP Paribas, and Crédit Agricole Corporate and Investment Bank complete STS Securitization

April 2021

Client(s) Crédit Immobilier de France Développement

Jones Day advised Crédit Immobilier de France (CIF) Group and the arrangers, BNP Paribas and Crédit Agricole Corporate and Investment Bank, on the French residential loans securitization made through the French fonds commun de titrisation "Private Harmony BTL 2021 FCT". The securitized assets are receivables arising from a portfolio of French “buy-to-let” home loans of circa €450 million. The notes issued by the French securitization fund Private Harmony BTL 2021 FCT were privately placed. The securitization transaction was notified to ESMA as "STS" (simple, transparent, and standardized) in accordance with the EU Regulation 2017/2402 dated December 12, 2017 laying down a general framework for securitization and creating a specific framework for simple, transparent, and standardized securitization.

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