Linklaters, legal counsel of the Joint Bookrunners on the issue of CCF Holding’s Tier 2 bonds

Linklaters has advised the Joint Bookrunners on the issue by CCF Holding of Fixed Rate Resettable Subordinated Notes (Tier 2 Notes) for a total nominal amount of 250 million euros. The order book exceeded 2.5 billion euros, representing an oversubscription rate of 10 times with participation from more than 200 top-tier investor orders.   

It is the intention of the Issuer that the proceeds of the issue of the Notes be treated for regulatory purposes as Tier 2 Capital. The initial fixed rate has been set at 5% per annum until the first reset date (27 May 2030), when the interest rate will reset at the prevailing Euro 5-year Mid Swap rate plus a margin of 2.75% per annum until the maturity date (27 May 2035). 

The Linklaters team was composed of partner Véronique Delaittre, counsel Pierre-André Destrée and associate Victor Duterne on the Capital markets law aspects, managing associate Leïla Megdoud and associate Lucille Cazala on tax aspects.