Caisse centrale Desjardins has launched an issue of senior debt worth US$1
billion in the United States

Desjardins is the first Canadian cooperative institution to issue in the U.S. market

LÉVIS, QC, Sept. 16 /CNW Telbec/ - On September 8, 2010, Caisse centrale Desjardins (CCD), financial agent and treasurer for Desjardins Group, the largest cooperative financial group in Canada, successfully completed the issuance in the U.S. market of fixed-rate, medium-term deposit notes totalling US$1 billion. The issuance was carried out in two tranches: one worth US$500 million with a three-year maturity and another of US$500 million with a five-year maturity. Desjardins is the first Canadian cooperative institution to issue on the U.S. market.

The issuance was conducted jointly by Morgan Stanley and J.P. Morgan and enabled Desjardins Group to raise funds, among qualified private investors, that will be used for its day-to-day operations.

The deposit notes will be dated September 16, 2010. The three-year tranche will come to maturity on September 16, 2013 and will carry an interest rate of 1.70%, payable semi-annually. The five-year tranche will come to maturity on September 16, 2015 and will carry an interest rate of 2.65%, payable semi-annually.

This public issue of deposit notes is CCD's fourth since the beginning of the year. In February, CCD issued CA$400 million of two- and three-year floating interest rate deposit notes on the Canadian market. In March, CCD issued (euro)1 billion of two-year floating rate deposit notes in the European market. Finally, last June, CCD returned to the Canadian market with an issuance of CA$500 million of five-year fixed rate deposit notes. In addition, last spring, Capital Desjardins issued CA$900 million in 10-year senior notes. In all, the 2010 Desjardins Group issuances total CA$4.2 billion.

About Caisse centrale Desjardins

Caisse centrale Desjardins acts as treasurer for Desjardins Group and as its financial agent on Canadian and international markets. It offers financing, banking and international services to institutional organizations (governments, municipalities, school boards, etc.), large and medium-sized businesses and Desjardins Group entities.

About Desjardins Group

Desjardins Group is the largest cooperative financial group in Canada and the sixth largest in the world, with assets of over $173 billion. Drawing on the strength of its caisse network in Québec and Ontario, and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.8 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty insurance, in Personal Services, in Business and Institutional Services. As one of the largest employers in the country, Desjardins is supported by the skills of its 42,200 employees and the commitment of over 6,200 elected officers. For more information, visit www.desjardins.com.

For further information: (for journalists only): André Chapleau, Director of Media Relations, Desjardins Group, 514-281-7229, 1-866-866-7000, ext. 7229, [email protected]