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Financials

France launches 7bn debut Green bond

LONDON, Jan 24 (IFR) - The Republic of France has launched a 7bn debut Green OAT due in June 2039 at 13bp over the 1.25% May 2036 OAT, according to a lead.

Order books closed above 23.5bn, including 5.2bn of demand from the joint lead managers.

The sovereign opened books at 15bp area over the reference OAT, the tight end of the mid to high teens over initial price thoughts.

Barclays, BNP Paribas, Credit Agricole (B&D), Morgan Stanley, Natixis and Societe Generale are running the trade.

France is rated Aa2 by Moody’s, AA by S&P and Fitch and AAA by DBRS, all with a stable outlook. (Reporting by Mike Turner, Editing by Helene Durand)

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