Fédération des Caisses Desjardins du Québec completes issuance of €750M CBL5 Covered Bonds

Date Closed

January 29, 2019

Lead Office



750.00 Million EUR

On January 30, 2019, Fédération des Caisses Desjardins du Québec issued an offering of an aggregate amount of €750 million 0.350% Covered Bonds, Series CBL5, due January 30, 2024. The offering was undertaken pursuant to a C$10 billion Legislative Global Covered Bond Programme.

The Desjardins Group is the largest federation of credit unions in North America. It was founded in 1900 in Levis, Quebec by Alphonse Desjardins. The Federation supports the Desjardins caisses in Québec by providing the caisses with the services required and coordinating the efforts of all other Desjardins Group components, namely Capital Desjardins and Desjardins Trust.

 McCarthy Tétrault LLP advised Fédération des caisses Desjardins du Québec with a team led by Marc MacMullin, that included Laure Fouin, Mary Jeanne Phelan, Sonia Struthers, and Ekaterina Popoff.