BPCE Announces Redemption of €900 Million Contingent Tier 2 Notes

BPCE, the French banking group, announced on September 11, 2026, that it will redeem its €900 million Contingent Tier 2 Capital Subordinated Fixed Rate Resettable Notes due in January 2042. The notes, issued as Series no. 2021-13, are part of BPCE’s capital structure and will be fully redeemed on October 13, 2026.

Issued in 2021, the notes were part of a broader financing strategy aimed at bolstering the bank’s financial resilience. The redemption is in line with the terms and conditions set out in the prospectus approved by the Autorité des marchés financiers. BPCE is required to pay each noteholder the principal amount of the notes, along with any accrued interest up to, but not including, the redemption date.

According to the press release, the redemption is governed by Condition 7.2 of the Conditions, which outlines the issuer’s right to redeem the notes at its discretion. The process will be handled by BNP Paribas, acting through its Securities Services business, which will also serve as the fiscal agent, principal paying agent, and calculation agent.

Following the redemption, an Euronext Paris notice will be issued, leading to the delisting of the notes from the stock exchange. This move by BPCE is part of its ongoing capital management strategy and reflects the bank’s commitment to maintaining a balanced and sustainable capital structure.

BPCE, with a registered office in Paris, has a share capital of €242,487,090. The company operates under the Legal Entity Identifier (LEI) 9695005MSX1OYEMGDF46 and is registered with the Company and Commercial Registry (RCS) in Paris, file number 493 455 042.

The redemption of the notes is a routine corporate action and does not indicate any significant financial or operational changes for BPCE. The bank continues to operate as normal and maintains its focus on providing financial services to its customers and stakeholders.