Gide is proud to announce that it has advised Société Générale on the first issuance of French law governed bonds registered in a distributed ledger technology (“dispositif d’enregistrement électronique partagé”) pursuant to Articles L.211-3 et seq. of the French Monetary and Financial Code.
The €100,000,000 covered bonds (“obligations de financement de l’habitat”) due 2024 have been issued by Société Générale SFH and are registered on the Ethereum blockchain.
This pilot project was developed by Societe Generale and one of its internal startups, Societe Generale FORGE.
Societe Generale FORGE experiments disruptive business solutions using blockchain technology to develop new digital capital market activities.
Gide’s team comprised Hubert du Vignaux and Bastien Raisse, respectively partner and senior associate of the Banking & Finance practice group, together with Franck Guiader and Matthieu Lucchesi, respectively head and senior advisor of Gide 255, Gide's Innovation & FinTech team.
Melinda Arsouze and Scott Logan, respectively partner and senior associate of the Capital Markets team specialising in the US law, Clément Vandevooghel and Sonia Aguercif-Behague, counsel and associate of the Securitisation team, as well as Laurent Modave and Agathe Coq- Etchegaray, partner and senior associate of the Tax tam, also acted on this operation.