BPCE SA’s €1 Billion Private French Consumer Loans

Jones Day advised BPCE on a private French consumer loans assets-backed financing through the establishment of a French fonds commun de titrisation (FCT) with compartments (BPCE Demeter FCT).

The assets-backed financing was structured so as to create and replicate an exposure to a French consumer loans portfolio and not an exposure to BPCE Group. The first 10 compartments of BPCE Demeter FCT issued Senior Notes on January 20, 2020 for an aggregate amount of €1 billion privately placed. The Junior Notes were retained by each relevant originating bank belonging to the BPCE Group.

The Jones Day team was led by Christine Van Gallebart (Picture) and included Qian Hu, David Aumain and Olga Goncharska.

Involved fees earner: David Aumain – Jones Day; Olga Goncharska – Jones Day; Qian Hu – Jones Day; Christine Van Gallebaert – Jones Day;

Law Firms: Jones Day;

Clients: BPCE;