Société Générale Lettres de Gage
Société Générale Lettres de Gage (SG LDG), Societe Generale Group's covered bond issuer
SG LDG is a credit institution wholly-owned by Societe Generale Bank & Trust Luxembourg. A license was issued by the Luxembourg Ministry of Finance in December 2011 to do business in accordance with the law of 21 November 1997 authorising banks to issue covered bonds (Lettres de Gage).
SG LDG's EUR 10 billion issuance programme was approved by the Luxembourg regulator - the CSSF - in June 2012. SG LDG made its first issues of covered bonds backed by public sector assets (Lettres de Gage publiques) in October 2012.
SG LDG's primary activity is the refinancing of assets generated by public sector financing entities in countries of the European Union, the European Economic Area and the OECD via the issue of covered bonds backed by public sector assets.
Its issue strategy is part of the Group's liquidity diversification policy, and it can offer private placements to provide investors with products tailored to their requirements (size, maturity, interest rate index, currency).
Standard & Poor's has assigned an AA+ / A-1+ credit rating to the Lettres de Gage issued by SG LDG.