Cases & Deals

BPCE and Natixis complete private securitization of €400 million French project finance loans

Client(s) BPCE S.A. and Natixis

Jones Day advised BPCE and Natixis, as arranger and lead manager on a securitization of French project finance loans originated by Caisse d’Epargne CEPAC belonging to the BPCE group through the establishment of a French fonds commun de titrisation "BPCE Eolios I FCT". The €400 million Class A Notes issued on December 20, 2022 were privately placed. The project finance loans are relating to renewable energy production units of energy produced from wind (on-shore), and/or solar power (photovoltaic) that are eligible to the “Renewable Energy” category as “Green Bonds” type of issuance, as further described in the BPCE’s Methodology Note for Green Bonds (category: Renewable Energy). The project finance loan receivables were transferred in full title by the originator to BPCE Eolios I FCT by way of financial collateral arrangements governed by articles L. 211-38 et seq. of the French Monetary and Financial Code.