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White & Case Advises Société Générale on US$5 Billion Yankee Bond Issuance

Global law firm White & Case LLP has advised Société Générale on the issuance of a five-tranche bond for an aggregate amount of US$5 billion. 

The issuance comprised of US$1.25 billion 2.226% Callable Resettable Senior Non-Preferred Notes due 2026, US$1.25 billion 2.797% Callable Resettable Senior Non-Preferred Notes due 2028, US$1 billion 3.337% Callable Resettable Senior Non-Preferred Notes due 2033, US$750 million Callable Senior Non-Preferred Floating Rate Notes due 2026 and US$750 million Callable Resettable Tier 2 Capital Subordinated Notes due 2043. The bonds were issued under the US Medium Term Note Program of Société Générale.

This is the largest Yankee bond issuance by a European bank (outside the UK) in the US market since June 2017 and the largest US dollar issue ever carried out by a French bank.

The White & Case team in Paris which advised on the transaction was led by partners Max Turner and Grégoire Karila and included associates Mathieu Damnon and Quentin Pipieri.

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