On November 23, 2022, CDP Financial Inc. completed the offering of CDN $1.25 billion aggregate principal amount of 3.80% senior notes due 2027 under its $20 billion senior notes program.
The notes are fully and unconditionally guaranteed by Caisse de dépôt et placement du Québec (CDPQ), the parent company of CDP Financial.
Canadian investors from Quebec and Ontario invested $144 million and $180 million respectively, together accounting for 26% of the total offering.
Non-disclosed foreign investors subscribed $926 million or 74% of the offering. (Canadian securities regulators do not wish and have absolutely no desire to know who the foreign investors were, CDP Financial’s legal counsel and the filing law firm thus had no obligation to report who they were. Who they were are non-important to our securities regulators. )
The offering is led by Desjardins Securities Inc. (Desjardins Capital Markets) as lead agent and including RBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets, Casgrain & Company Limited, CIBC Capital Markets, HSBC, Laurentian Bank Securities and National Bank Financial Markets.
For the Canadian portion of the offering, CDP Financial paid $1.135 million in commissions to the agents.
Davies Ward Phillips & Vineberg LLP and Shearman & Sterling LLP represented CDP Financial and the agents respectively.
All the information can be found in Canadian Financings database. Information can not be found in any other databases, Canadian and foreign.
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photo credit: CDPQ