PARIS May 21 France sold an additional 1.611
billion euros of BTAN treasury notes and OAT bonds and 175
million euros of extra inflation-linked bonds on Monday after
auctions held last week, debt management agency Agence France
The AFT sold an extra 436 million euros of the 0.75 percent
September 2014 BTAN, 210 million euros of the 3.5 percent April
2015 OAT, 194 million euros of the 3.25 percent April 2016 OAT
and 771 million euros of the 1.75 percent February 2017 OAT.
It also sold an extra 44 million euros of the 1.1 percent
July 2022 OATei inflation-linked bond, 107 million euros of the
2.1 percent July 2023 OATi and 24 million euros of the 1.85
percent July 2027 OATei.
The non-competitive bids meant France raised a total of
9.607 billion euros from the BTAN and OAT auction, and 1.357
billion euros from its linker bond auction.
Under the French system, buyers not only submit competitive
bids at auction but also have the option, for a limited
period after the sale, of buying extra securities at the average
auction price. The amount of extra securities they can buy under
those terms is calculated according to how active they have been
at previous sales.