Cleary Gottlieb acted as deal counsel in the offering by BNP Paribas of $500 million floating-rate senior preferred notes due August 7, 2021.
The offering was a takedown from its $40 billion medium-term note and warrant program. The notes will bear interest at a floating rate based on three-month USD LIBOR.
The notes were placed in the United States pursuant to Rule 144A. The transaction priced on August 8, 2019, and closed on August 14, 2019. BNP Paribas Securities Corp. and Wells Fargo Securities LLC acted as joint bookrunners, with Wells Fargo Securities LLC acting as a lead manager and BNP Paribas Securities Corp. acting as a co-manager.