Fédération des Caisses Desjardins du Québec completes two issuances of covered bonds totaling C$4 billion
April 14, 2020
4.00 Billion CAD
On April 14, 2020, Fédération des caisses Desjardins du Québec (FCDQ) completed an issuance of C$1.5 billion floating rate covered bonds, Series CBL9, due April 2023. Previously, on March 30, 2020, FCDQ completed an issuance of C$2.5 billion floating rate covered bonds, Series CBL8, due September 2021. The offerings were conducted pursuant to FCDQ's Global Covered Bond Programme. The CBL8 offering was the first Canadian dollar-denominated issuance conducted pursuant to the covered bond programme.
The covered bonds are unconditionally and irrevocably guaranteed as to timely payment of principal and interest by CCDQ Covered Bond (Legislative) Guarantor Limited Partnership.
FCDQ is a component of the Desjardins Group, the largest federation of credit unions in North America.
McCarthy Tétrault LLP advised FCDQ with a team led by Marc MacMullin that included Laure Fouin, Loïc Sanscartier and Candace Pallone.