France to raise 4.5 bln euros with new 30-year bond

PARIS, March 26 Tue Mar 26, 2013 10:37am EDT

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PARIS, March 26 (Reuters) - France is set to raise 4.5 billion euros through the issue on Tuesday of a new 30-year benchmark bond by syndication, a source close to one of the banks lead managing the deal said.

The bond, which matures on May 25, 2045 and replaces the 2041 OAT bond as the 30-year benchmark, drew demand worth more than 7 billion euros ($9.02 billion), the source said. The coupon should be around 3 percent.