Fédération des Caisses Desjardins du Québec issues inagural A$800M in Australian covered bonds, Series CBL27 and CBL28
On December 2, 2024, Fédération des Caisses Desjardins du Québec ("FCDQ") completed its inaugural issuances of Australian dollar denominated covered bonds under its C$26 billion global covered bond programme. FCDQ’s issuance of its Series CBL27 A$625,000,000 floating rate Australian covered bonds, and Series CBL28 A$175,000,000 4.751% fixed rate Australian covered bonds are due December 2, 2027.
FCDQ is a cooperative financial group in Canada that offers a wide range of banking services to its members, including personal and commercial banking, insurance, and investment products. FCDQ is part of the Desjardins Group, which is the largest federation of credit unions in North America, and it is headquartered in the province of Quebec, Canada.
McCarthy Tétrault advised FCDQ with a team led by Marc MacMullin that included Candace Pallone (Financial Services); Sonia Struthers, Tamas Toezser, Jonathan Leung, Ariane Monjauze, Pegah Mortazavian (Business); and Fred Purkey (Tax).
