Deals | France – Equity Derivatives

Gide has advised Crédit Agricole CIB on its partnership with BNP Paribas Global Equities and Commodity Derivatives (GECD) for the administrative management of Crédit Agricole CIB’s equity derivatives portfolio, which is being discontinued.

Both the size and sophistication of this transaction are unprecedented in the equity derivatives sector.

Within this framework, Crédit Agricole CIB will transfer the entirety of the market risks associated with its positions to BNP Paribas GECD, which will manage the hedge. It will also transfer to BNP Paribas GECD the administrative and operational management of a EUR 12.5 billion portfolio of notional. As from January 2014, BNP Paribas GECD will ensure the continuity of service for the holders of the portfolio’s products (secondary market, valuations, reporting, customer relations, etc.).

The Gide’s team advising Crédit Agricole CIB on this transaction comprises partner Guillaume Rougier-Brierre and Joanna Naumowicz for the contractual aspects and partner Arnaud Duhamel for the financial aspects.