Compagnie de Financement Foncier, an institution founded in 1999 and capitalising on more than 168 years of experience of its parent company<\/p>\n<\/a>\nFoundation of Cr\u00e9dit Foncier de France in 1852<\/a>\n The main business of Cr\u00e9dit Foncier de France, founded in 1852, is to grant mortgage-backed real estate loans and local authority loans and to issue bonds to finance these loans.<\/p>\n<\/a>\nPublic interest assignments<\/a>\n From the time it was founded, Cr\u00e9dit Foncier de France became the leading lender to local authorities and maintained that position until World War II. Since the 1950s, Cr\u00e9dit Foncier de France has been entrusted with several public interest assignments. The most important of these was to invest, finance and manage the state-subsidised loans (PAP) for which it was the main distributor.<\/p>\n<\/a>\nThe law on soci\u00e9t\u00e9s de cr\u00e9dit foncier dated June 25, 1999<\/a>\n Until 1999, only Cr\u00e9dit Foncier de France and Cr\u00e9dit Foncier et Communal d’Alsace et de Lorraine were considered as “Soci\u00e9t\u00e9s de Cr\u00e9dit Foncier<\/em>“. These entities could issue covered bonds (“obligations fonci\u00e8res<\/em>“) pursuant to the decree of 1852. While the legal environment on bankruptcy laws evolved rapidly, the legislation did not follow up with the requisite priority right of payment for “obligations fonci\u00e8res”. The rank of holders of these bonds fell significantly and their risk increased accordingly. After the priority right of payment was granted and a creditor rating was given under the Act of June 25, 1999 (for more information on the law, please\u00a0click here<\/a>\u00a0<\/a>), the Cr\u00e9dit Foncier Group’s overall competitive position was strengthened in European markets for real estate and local authorities financing. The June 25, 1999 Act also required the old “Soci\u00e9t\u00e9s de Cr\u00e9dit Foncier”, Cr\u00e9dit Foncier de France and Cr\u00e9dit Foncier et Communal d’Alsace et de Lorraine, to transfer all eligible assets and liabilities to a new\u00a0Soci\u00e9t\u00e9 de Cr\u00e9dit Foncier<\/em>.<\/p>\n<\/a>\nThe inception of Compagnie de Financement Foncier<\/a>\n The inception of Compagnie de Financement Foncier on July 23, 1999 and the transfer by Cr\u00e9dit Foncier de France of old secured loans as well as eligible assets and liabilities to Compagnie de Financement Foncier on October 21, 1999 brought the Cr\u00e9dit Foncier Group into compliance with the new law on “Soci\u00e9t\u00e9s de Cr\u00e9dit Foncier”. Cr\u00e9dit Foncier de France continues to distribute, manage and recover loans recognised in the balance sheet of Compagnie de Financement Foncier and continues to manage all the liabilities and derivatives. Management agreements regulating the relationship between the parent company and its wholly-owned subsidiary were implemented.<\/p>\n<\/a>\nGroupe BPCE integrates the activities and teams of Cr\u00e9dit Foncier<\/a>\n Starting April 2019, Compagnie de Financement Foncier refinances loans to the public and similar sectors of Groupe BPCE entities. It remains a wholly-owned subsidiary of Cr\u00e9dit Foncier and affiliated to BPCE.<\/p>\n<\/a>\nKey dates<\/a>\n Creation by decree of the first French mortgage bank, Cr\u00e9dit Foncier de France, under the soci\u00e9t\u00e9 de cr\u00e9dit foncier statutory.<\/p>\n First issue of “obligations fonci\u00e8res” in France.<\/p>\n<\/div>\n<\/div><\/div><\/div> The Caisse d’Epargne Group acquires 90.6% of Cr\u00e9dit Foncier de France;<\/p>\n New law on “Obligations fonci\u00e8res” (French Savings and Financial Security Act of June 25, 1999 giving the soci\u00e9t\u00e9s de cr\u00e9dit foncier a new status;<\/p>\n Creation of Compagnie de Financement Foncier, a “Soci\u00e9t\u00e9 de Cr\u00e9dit Foncier”, wholly-owned subsidiary of the Cr\u00e9dit Foncier Group.<\/p>\n<\/div>\n<\/div><\/div><\/div> Compagnie de Financement Foncier becomes a major player in the European covered bonds market;<\/p>\n It is the first private issuer and one of the 10 most active AAA issuers on the covered bond market.<\/p>\n<\/div>\n<\/div><\/div><\/div> July 13: second benchmark 2-year-maturity issue of $1.8bn (\u20ac1.4bn) under 144A\/RegS formats. Compagnie de Financement Foncier, an institution founded in 1999 and capitalising on more than 168 years of experience of its parent company Foundation of Cr\u00e9dit Foncier de France in 1852 The main business of Cr\u00e9dit Foncier de France, founded in 1852, is to grant mortgage-backed real estate loans and local authority loans and to issue […]<\/p>\n","protected":false},"author":2,"featured_media":121,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-517","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/pages\/517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/comments?post=517"}],"version-history":[{"count":17,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/pages\/517\/revisions"}],"predecessor-version":[{"id":4166,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/pages\/517\/revisions\/4166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/media\/121"}],"wp:attachment":[{"href":"https:\/\/b-foncier.vaadigm.xyz\/en\/wp-json\/wp\/v2\/media?parent=517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Foundation of Cr\u00e9dit Foncier de France in 1852<\/h4>\n
Public interest assignments<\/h4>\n
The law on soci\u00e9t\u00e9s de cr\u00e9dit foncier dated June 25, 1999<\/h4>\n
The inception of Compagnie de Financement Foncier to refiance the mortgage lending activities and public-sector activities of group cr\u00e9dit foncier<\/h4>\n
Groupe BPCE integrates the activities and teams of Cr\u00e9dit Foncier<\/h4>\n
Key dates<\/h4>\n
\nLeading French issuer of “obligations fonci\u00e8res” with more than 50% market share.<\/div>\n<\/div><\/div><\/div>
\nTop year in term of issue of obligations fonci\u00e8res with \u20ac23.5 billion.<\/div>\n<\/div><\/div><\/div>
\nApril 15: Compagnie de Financement Foncier launched an inaugural issue under the 144A\/RegS formats of USD 2bn 3-year maturity, 144A being the format dedicated to foreign investors on the US market. <\/p>\n
\nSeptember 23: Compagnie de Financement Foncier received the Award for “best issuer of the year” during the Covered Bonds Awards Ceremony organised by Euroweek Magazine.<\/p>\n<\/div>\n<\/div><\/div><\/div>
\nThe European Covered Bond Council (ECBC), which represents 95% of the covered bonds market, is committed to “promote the asset class covered bonds as a privileged instrument for lenders to grant mortgages”;
\nThus, it created the Covered Bond label that allows to standardize and label all covered bonds formats.<\/div>\n<\/div><\/div><\/div>
\nCompagnie de Financement Foncier is also compliant from 01 January 2014 with Article 129 of the European CRR and the ECBC Covered Bond Label Convention.<\/div>\n<\/div><\/div><\/div>
\nCompagnie de Financement Foncier\u2019s obligations fonci\u00e8res levels on the secondary market are trading close to the French sovereign bonds (OAT).<\/div>\n<\/div><\/div><\/div>
\nAward of “The Covered Bond report” – “Best issuer in euro”
\nAward of “The Cover – Global Capital” – “Best issuing strategy”<\/div>\n<\/div><\/div><\/div>
\nplacements. Double tranche issuance of \u20ac1.5bn: Two tranches of \u20ac750m with maturities of 6 and 20 year<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"