BPCE taking IOIs for senior preferred and/or 15NC10 tier-two social Kangaroo deal

Monday, 02 June 2025

Disclosure type: IOI
Issuer name: BPCE
Issuer rating: A+/A1/A
Announcement date: 2 June 2025
Expected launch date: near future
Lead managers: Commonwealth Bank of Australia, Mizuho, National Australia Bank, Natixis, Standard Chartered Bank, TD Securities

Five-year senior preferred tranche
Expected issue rating: A+/A1/A+
Currency: AUD
Indicative volume: benchmark
Coupon type: fixed and/or FRN
Price guidance: 135bp/swap

Subordinated tier-two 15NC10 Local Economic Development social tranche
Expected issue rating: BBB/Baa2/BBB+
Currency: AUD
Indicative volume: ND
Coupon type: fixed-to-FRN
Price guidance: 270bp/swap
Framework: BPCE Social Funding Framework, 10 April 2024
Second-party opinion: ISS ESG, 10 April 2024
ICMA aligned: yes