Commentary & Deal Flow

Final Books above €5bn (incl. €545m JLM)

Launched: 6.5yr: €1.5bn @ MS+36bp - Books over €5bn pre-rec (Incl. 545m JLMs)
Spread set at: 6.5yr: MS+36bp - Books above €4.4bn (incl. €545m JLMs)
Book Update: Books above €3bn (incl. €475m JLMs)
Guidance: 6.5yr: MS+43a

• Issuer: BPCE SFH
• LEI: 969500T1UBNNTYVWOS04
• Format: OBLIGATIONS DE FINANCEMENT DE L'HABITAT - ECBC Label - EU harmonisation label European Covered Bond (Premium) - CRD4
• Ratings: Aaa/AAA (Moody's/S&P) - Reg S – Bearer
• Size: €1.5bn
• Maturity Date: 10-Jan-33 – 6.5yr (Soft Bullet format)
• Settlement Date: 10-Jun-26 (T+7)
• Coupon: Fixed, Annual, Act/Act ICMA.
• Reference Gilt: DBR 2.5% 15-Nov-32, 101% HR
• Target Market: MiFID II and UK MiFIR professionals/ECPs-Only/No EU PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or in the UK/ Manufacturer target market (MiFID II and UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels).
• Business Day Convention: Following, Unadjusted basis
• Business Days: T2
• Selling Restrictions: As set out in the Base Prospectus
• Governing Law: French Law
• Redemption price: 100%
• Denomination: €100k + €100k
• Listing: Euronext Paris
• Use of proceeds: The Notes to be issued are “European Green Bonds” or “EuGBs” in accordance with Regulation (EU) No 2023/2631 of the European Parliament and of the Council and an amount equivalent to the net proceeds of the issuance will be applied by the Issuer to finance or refinance the Eligible EuGB Portfolio, as described in the European Green Bonds Factsheet. The Notes are issued in accordance with the EuGB Regulation and, the EuGB Factsheet Relevant Information, incorporated by reference in the Base Prospectus; and the pre-issuance review related to the European Green Bonds Factsheet issued by ISS Corporate as external reviewer, both referred to in Article 10 of the EuGB Regulation, are available on the Issuer’s website.
• JLM: Danske Bank, Deutsche Bank, DZ BANK, ING, Natixis (B&D), NORD/LB, Santander & Swedbank
• Sole Green Structurer: Natixis
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities
• ISIN: FR0014018XB6
• Schedule: Books are closed. Allocations and pricing to follow today.
• Hedge Deadline: Hedges to the desk before 14.20 CET / Pricing thereafter
• Advertisement: This communication is an advertisement and is not a prospectus. The Base Prospectus, any supplements thereto, and the Final Terms (when published) are available at https://groupebpce.com/en/investors/funding/bpce-sfh