MONTREAL, June 8 /CNW Telbec/ - CDP Financial, a wholly-owned subsidiary
of the Caisse de dépôt et placement du Québec ("Caisse"), is proceeding with
the first issue under its commercial paper program's multi-currency
component - an investment in the amount of 210 million euros.
In March 2007, CDP Financial announced that the limits of its commercial
paper program would be raised from CA$5 billion to CA$7 billion and a
multi-currency component introduced. Overall, outstanding on short-term notes
are restricted to a maximum of CA$7 billion or the equivalent (all currencies
CDP Financial will utilize its high credit ratings to issue debt
securities on the financial markets, in order to fund activities carried out
by Caisse investment groups seeking to use financial leverage to boost returns
on Canadian and international investments. Short-term notes issued in London,
England can be denominated in sterling pounds, euros, Canadian or U.S.
dollars, yen or Swiss francs, while those issued in Montréal, Canada will be
made out in Canadian dollars.
"Through the issuance of this first commercial paper transaction in a
currency other than the Canadian dollar, CDP Financial continues to fulfill
its mission of providing support to the Caisse's investment groups. These
entities will therefore be able to borrow in the currency of their choice, in
order to finance their investments," stated Ghislain Parent, President, CDP
Financial and Caisse Executive Vice-President, Finance, Treasury and Strategic
CDP Financial has been assigned the highest issuer credit ratings by
Moody's Investors Service (Moody's), Standard and Poor's (S&P) and Dominion
Bond Rating Service (DBRS). For its short-term notes program, the company has
received a rating of P-1 from Moody's, A-1 (high) from S&P and R-1 (high) from
As at December 31, 2006, CDP Financial had issued short-term notes in the
amount of CA$4.1 billion and medium-term notes worth CA$1.5 billion. CDP
Financial's financing programs are guaranteed by the Caisse.
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and insurance
plans. As at December 31, 2006, it held CA$143.5 billion in net assets. One of
the leading institutional fund managers in Canada, the Caisse invests in the
main financial markets as well as in private equity and real estate.
For more information: www.lacaisse.com
For further information:
For further information: and source: Gilles des Roberts, Media
Relations, (514) 847-2175