Cleary Gottlieb is acting as deal counsel in BNP Paribas’ €4.3 billion rights offering announced on September 29. The proceeds of this capital increase will be used to redeem the €5.1 billion preferred shares issued to the French State in March 2009. The rights offering is based on a public offering in France and will be passported in the United Kingdom, Germany, Italy, Belgium, Luxembourg and Switzerland.
