LONDON, June 11 (IFR) - The Republic of France will price its new eurozone inflation-linked 15-year benchmark at the tight end of guidance, according to a lead.
The transaction, which matures in July 2030, will price at 20bp over France’s 1.85% July 2027 inflation-linked note. This at the tight end of price guidance of 21bp area (plus or minus 1bp) and the tight end of official guidance of 22bp area over.
Books for France’s first inflation-linked deal since 2011 are in excess of 6bn, including 1.7bn of joint lead manager interest.
The bond is being sold via BNP Paribas, Credit Agricole, HSBC, Nomura and Societe Generale. Lead banks began marketing on Tuesday in the low 20s over OATs.
The size of the Aa1/AA/AA+ rated deal is yet to be determined. (Reporting by Sarka Halas, Editing by Helene Durand, Alex Chambers)