Commentary & Deal Flow

Book Update: Books above €2.7bn (incl. €245m JLM)
Guidance: 10yr: MS+59a

• Issuer: Compagnie de Financement Foncier
• LEI: DKGVVH5FKILG8R13CO13
• Issue Type: Obligations Foncieres - ECB Eligible - Reg S Bearer - ECBC Covered Bond Label / CRDIV Compliant
• Ratings: Aaa/AAA/AAA (Moody's/S&P/Scope)
• Maturity Date: 12-May-36 – 10yr (Soft Bullet)
• Settlement Date: 12-May-26 (T+5)
• Size: €600m (no-grow)
• Coupon: Fixed, Annual Act/Act ICMA
• Initial Guidance: MS+59bps area
• Business Day Convention: Following, Unadjusted basis
• Redemption Price: 100%
• Governing Law: French Law
• Documentation: Under the €125bn EMTN Programme and its supplements
• Denomination: €100k + €100k
• Listing: Euronext Paris and Luxembourg
• Use of Proceeds: The net proceeds, or an amount equal to the net proceeds of the issuance of the Notes will be allocated by the Issuer, to finance or refinance, in whole or in part, new and/or existing eligible loans for social assets and/or projects, under the eligible social project categories “Social Housing” and “Healthcare”, as further described in Groupe BPCE’s Social Funding Framework.
• Selling Restrictions: As set out in the Base Prospectus
• MiFID II/UK MiFIR product governance: Manufacturer target market (MiFID II/UK MiFIR product governance) is eligible counterparties and professional clients only (the following distribution channels: investment advice, portfolio management, non-advised sales). No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in EEA and the UK.
• JLM: ABN AMRO, Commerzbank, Helaba, Natixis (B&D), Nordea & UBS
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities
• ISIN: FR0014018DA0
• Timing: Books open for today’s business
• Advertisement: The Base Prospectus, any supplements thereto, and the Final Terms (when published) are available at https://foncier.fr/prospectus-emtn/