Cades offers 10-year social bonds at 48 bps over SOFR mid-swaps

By Rebecca Melvin

Concord, N.H., Jan. 19 – Caisse d’Amortissement de la Dette Sociale (Cades) set the spread for a benchmark dollar-denominated offering of 10-year social bonds at SOFR mid-swaps plus 48 basis points, according to market sources on Wednesday.

Pricing was tightened from earlier guidance of mid-swaps plus 49 bps. The order books grew to in excess of $4 billion from in excess of $2 billion.

BNP Paribas, Deutsche Bank, Goldman Sachs and JPMorgan are the bookrunners for the Rule 144A and Regulation S offering.

The French debt agency is based in Paris.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.