BPCE in $400 Million U.S. Medium-Term Note Offering

Cleary Gottlieb represented BPCE in a $400 million offering of senior unsecured floating rate notes issued under BPCE’s $10 billion US Medium Term Note Program. This offering represents a reopening, as the notes are consolidated and form a single series with BPCE’s $500 million senior unsecured floating rate notes due 2016 issued April 25. BofA Merrill Lynch, Morgan Stanley and Natixis Securities Americas LLC acted as dealers in the transaction, which closed on October 8.

BPCE is the central body of Groupe BPCE, a leading French mutual banking group. Groupe BPCE was created through the July 2009 combination of the Groupe Banques Populaires and the Groupe Caisse d’Epargne, two leading French mutual banking groups.