Commentary & Deal Flow

Compagnie de Financement Foncier, expected to be rated Aaa/AAA/AAA by Moody's/S&P/Scope, has mandated BayernLB, Erste Group, LBBW, Natixis (B&D), Rabobank, Santander, SEB and UniCredit as joint-bookrunners for an upcoming dual-tranche Euro-denominated Obligations Foncieres offering.

The transaction will consist of a 3yr benchmark tranche and an 8yr €500m (WNG) tranche. The offering will be launched in the near future, subject to market conditions.

• Details: The transaction is CRD IV, ECB Eligible and will be under the label European covered bond premium.
• Stabilisation: FCA/ICMA Stabilisation.
• Target Market: Manufacturer target market (MiFID II/UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels).
• Documentation: No EU PRIIPs key information document (KID) or no disclosure document required by the FCA Product Disclosure Sourcebook ("DISC") has been prepared as not available to retail in EEA and the UK.
• Marketing Pack:
• • EMTN Program: https://foncier.fr/en/prospectus-emtn/
  • Investor Presentation: https://foncier.fr/en/investor-presentation/