Our issuance programs

Caisse des Dépôts has access to the short, medium and long-term markets through dedicated programmes.

The issuances from Caisse des Dépôts have the following qualities:

  • 0% rick weighting for bank capital adequacy purpose (Bâle III)
  • Liquidity Coverage Ratio confirmed at level 1
  • Eligible for the Asset Purchasing Expanded Programme from the European Central Bank

Global Commercial Paper

The Global Commercial Paper programme with a ceiling of 30 billion euros

  • Euros Commercial Paper (ECP): Multicurrency English law programme from 1 year to 1 year less 1 day. Fixed rate issuances.
  • US Commercial Paper (USCP): American law programme in dollars for 1 day to 397 days. Fixed rate issuances or floating ones against SOFR USD .

Global Commercial Paper Program 2023 PDF - 413 KB

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Negotiable European Commercial Paper

The «Negotiable European Commercial Paper » program (NEU CP) of 20 billion euros

  • Multicurrency French law programme, from 1 day to 1 year,
  • Fixed rate or floating rate issuances

Financial memorandum - Negotiable European Commercial Paper, NEU CP (Classic and sustainable) 2025 PDF - 399 KB

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Euro Medium Term Note (EMTN)

The EMTN programme of  25 billion euros for public or private issuances

  • Private placement over a very wide range of currencies: EUR, USD, GBP, JPY, HKD, AUD, NOK, CZK, etc.
  • Public "benchmark" in USD, GBP, CHF, JPY and EUR
  • The capital is guaranteed for the investor.

CDC 2025 Supplement n°3 EMTN dated 28th october 2025 PDF - 292 KB

CDC EMTN Supplement N°2 dated 30th September 2025 PDF - 277 KB

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Negotiable European Medium Term Note

The « Negotiable European Medium Term Note » program (NEU MTN) of 1.5 billion euros

Supplément 2025 n°3 NEU MTN ENG dated 28th october 2025 PDF - 235 KB

INFORMATION MEMORANDUM NEU MTN 2025 english version PDF - 313 KB

 

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Final Terms of our long-term issuances (EMTN and NEU MTN)

2025

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2024

EMTN and NEUMTN debt breakdown by type of placement as of June 30th 2024

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EMTN and NEUMTN debt breakdown by type of placement as of June 30th 2024

 

EMTN and NEUMTN debt amortization scheduleas of June 30th 2024

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EMTN and NEUMTN debt amortization scheduleas of June 30th 2024

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