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The new bank is to be known as “Natixis Pfandbriefbank AG” and will be 100% owned by Natixis S.A., Paris. The main activity of this newly established mortgagebank will be the financing of European commercial real estate transactions, with a geographical focus on Germany and France. The eligible part of the business will be refinanced through the issuance of covered bonds backed by mortgages (Hypothekenpfandbriefe).

Henning Rasche and Ralf Wittenbrink are the designated board members of the new bank. Both have many years experience in capital markets and have been board members of German mortgagebanks in the past. Henning Rasche was chairman of the association of German mortgagebanks (VDP – Verband deutscher Pfandbriefbanken) until mid-2010.

This transaction provides SCOR Global P&C SE with US$270 M protection against hurricanes and earthquakes in the United States up to December 31, 2014 and with €50 M protection against windstorms in Europe up to March 31, 2015.

This transaction is another key step for Natixis in the cat bond market and marks the expansion of its catastrophe bonds offering to US risks. As of December 12th 2011, Natixis has lead managed 100% of the Euro denominated cat bonds and more than 18% of all catbonds issued this year.

The tool is based on an innovative Internet site www.cashmanagement.natixis.com and on "myCampus", an iPhone®, iPod Touch® et iPad® application downloadable from App Store.

This innovative tool, which is guided by the avatar Elise, offers cash management clients the opportunity of informing and training themselves about the best cash management practices using a WebTV, interactive FAQs, a Serious Game* and training and e-learning modules developed by training experts and specialists.

myCampus Cash management delivers access to resources and training wherever the client’s location. The client may do so even without an Internet connection as training sessions downloaded from App Store can be conducted offline.

*Serious games are designed for the purpose of solving a problem. Although serious games can be entertaining, their main purpose is to train, investigate, or advertise. Sometimes a game will deliberately sacrifice fun and entertainment in order to make a serious point.

This is the second issuance under the Calypso Capital Limited program set up by AXA Global P&C, after the €275 million issuance closed in October 2010.

This transaction provides AXA Global P&C with protection against the risk of a large windstorm in Europe. 180 million Euros of risk are transferred to capital markets via this issuance.

This deal is an additional key step of Natixis’ product range development (catastrophe bonds) for its client base of insurers and reinsurers, and reinforces the leadership of Natixis in the European CatBond market in 2011.

This communication does not constitute an offer to sell or the solicitation of an offer to buy the securities mentioned herein in any jurisdiction in which such an offer or solicitation is illegal. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act.

This success confirms the expertise and development of the Global Debt Platform.

Natixis accompanied several clients on the primary bond market during the first half of 2011, which consolidates its leading position in this field. Present in all jurisdictions with an extensive knowledge of investors and issuers, Natixis has become a front-rank player on global primary bond markets.

This award* confirmed Natixis’ expertise in the covered bond market for over 12 years and its position as a leading global bank in 2011, in all currencies.

In a high market volatility context, covered bonds are one of the main financing instruments available to banks. Banks world-wide have used them to raise more than €165 billion so far in 2011.

In 2011, Natixis is n°1 for covered bonds by the number of transactions with 62 syndicated transactions lead managed (source: Dealogic au 23/09/2011). Natixis is active in all jurisdictions and has market-leading knowledge of both investor and issuer needs on top of in-depth expertise on primary and secondary markets, dedicated research, global distribution and a dedicated structuring team.

* “Best Overall Bank for Covered Bonds – Covered Bond Awards 2011” – The Cover / EuroWeek – September 2011

After having managed the public placement of two securitization operations in 2001, i.e. Claris 2011-1 (€560 million) for the Italian bank Veneto Banca and Headingley 2011-1 (€500 million tranche) for the English bank Lloyds Bank, Natixis added another success in this area by arranging and marketing the €450 million car loan securitization for Socram Banque.

Investor request for the tranche rated AAA/Aaa by Standard Standard & Poor’s and Moody’s was very strong with €1.3 billion of interest with a final size of €409.5 million (oversubscribed three times). This success is the result of the winning combination of:

The experience of Socram Banque (40-year car loan specialist in France) and the borrowers it targets (the long-standing clients of its shareholders which are cooperative insurance companies);

The quality and diversity of the securitized loan portfolio;

The transparency of the securitization structure in line with all the reporting standards required by the market and by regulations;

A favorable market context, i.e. scarcity of products with exposure to French risk and issue spread tightening, despite uncertainties on sovereign debt restructuring.

The economic situation is favorable for this type of operation considering the reopening of the securitization market in the context of the upcoming Basel III regulations.

This exceptional success was made possible by the Socram Banque teams and the rapid execution of the operation due to the mobilization of Natixis*, one of Socram Banque’s arranger/bookrunner partners. With this new success, Natixis confirmed its leading position on the primary securitization market.

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In a ceremony in Hong Kong, EuroWeekAsia unveiled its list of prize-winning financial institutions in the Asian syndicated loan market in 2010. More than 80 market players were invited to rate the performance of their peers and to choose the most outstanding deals of 2010. Natixis was singled out as the “Best arranger of Vietnamese syndicated loans”, one of the most competitive markets.

The Asia-Pacific region is one of Natixis’s strategic priorities. The Corporate and Investment Bank (CIB) now has around 15 offices in 12 countries in the region. This platform is organized from the regional center in Hong Kong and covers most of CIB’s activities. It is geared to working with major Asian corporations in the region, but also to helping large European clients execute their expansion plans in Asia.

As part of its ambitious redeployment plan in the capital markets field in 2010, Natixis reinforced its debt structuring and distribution activities via the creation of a global debt platform. This platform notably includes a syndication activity that ranks Natixis as one of the most active syndicated loan arrangers in the Asia ex-Japan region.

This regional presence is to be reinforced this year via new offices in the region that will optimize local coverage and the service offered to clients. 2011 will also feature efforts to redeploy an array of capital-market products and to bolster the sales force.

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This capability is illustrated by the numerous transactions Natixis led as Mandated Lead Arranger throughout Europe, specifically in France, Spain, Italy, the United Kingdom and Sweden as well as in the Middle East in Oman. Project Finance International also highlights the innovative and exemplary nature of the three transactions on which Natixis acted as financial advisor that were successfully completed in 2010, i.e. in France for the Exeltium and Marseille’s Stade Vélodrome Projects and in the Middle East for the Emirates Steel Industries Expansion Project in Abu Dhabi.
Natixis operates globally across all Project Finance industrial sectors, namely infrastructure, power and renewable energy, natural resources and telecommunications.
The Project Finance team, which is physically located worldwide, offers a wide range of products and services to major clients of the Bank. Services include financial advisory, debt arrangement, underwriting and distribution of senior and subordinated bank debt, arrangement and distribution of bond issues, interest rate, foreign exchange and commodity risk hedging products.

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