EDF retail bond issue
Groupe BPCE, second largest distributor of EDF bonds with almost € 711 million placed
15/07/2009
July 15, 2009
Groupe BPCE was the second largest distributor of EDF's recent retail bond issue, thanks to a dynamic performance by its banking networks.
The EDF bond issue was open from June 17 to July 6. During that period, the Groupe BPCE placed €711 million giving it a 22% share of the total €3.2 billion raised by EDF. This performance was achieved through the Banque Populaire, Caisse d'Epargne, Banque Palatine, Banque privée 1818 and Natixis banking networks.
In terms of subscriber profile, the Banque Populaire and Caisse d'Epargne branch networks were responsible for almost 75% of total volumes subscribed by clients outside the Paris region, thanks to their strong national coverage. In addition, more than 50% of investors who took up the EDF issue through the two networks invested a sum of €11,000 or more.
The Groupe Banque Populaire, which is positioned more in the SME and small business segments, posted the best performance in terms of average investment with more than €12,000 per subscriber. The Groupe Caisse d'Epargne, which has historically focused more on the personal banking segment, achieved more than 65 % of subscription volumes. Through these results, Banque Populaire and Caisse d'Epargne, the Groupe BPCE's two historical brands, made a highly complementary contribution to the success of this retail bond issue.
François Pérol commented: "This commercial performance illustrates the strength and reach of the Groupe BPCE's branch networks in retail banking."
