Simpson Thacher Represents Initial Purchasers in US$1.0 Billion Debt Offering by Caisse centrale Desjardins
09.20.10
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The Firm represented the initial purchasers in a US$1.0 billion debt offering by Caisses centrale Desjardins, a Québec financial services cooperative. The offering, which was conducted in reliance upon Rule 144A and Regulation S, was made in two series comprising US$500 million of 1.700% Senior Notes Due 2013 and US$500 million of 2.650% Senior Notes due 2015.
Caisses centrale Desjardins is the financial agent and treasurer for Desjardins Group, the largest cooperative financial group in Canada with assets of over C$173 billion. The offering is Caisse centrale’s debut issuance in the U.S. market.
The Simpson Thacher team for the transaction included: Glenn Reiter, Maripat Alpuche, Justin Cooke, Mark Brod and Will Golden (Capital Markets), Seojung Park (Tax), and Jeanne Annarumma (Executive Compensation and Employee Benefits). Summer Associate Brian Rifkin and Paralegal Michael Williamson provided valuable assistance.