Chicago, Sept. 14 – Agence Francaise de Developpement (AA/AA) priced $1.25 billion of 4% five-year sustainable notes on Wednesday at 99.646 to yield 4.039%, or at a spread of 61 basis points over SOFR mid-swaps.
Pricing guidance was in the 62 bps area over SOFR mid-swaps, a market source said.
Bookrunners for the Regulation S deal are Barclays, BNP Paribas (billing and delivery), Goldman Sachs Bank Europe SE, HSBC and JPMorgan.
Books went above $1.8 billion. The deal launched with interest just above deal size, including interest from the joint lead managers.
Proceeds will be used to finance or refinance eligible sustainable expenditures in the company’s sustainable bond framework.
The notes will be listed on the Euronext Paris.
The issuer provides development and financing assistance to developing countries.
| Issuer: | Agence Francaise de Developpement
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| Amount: | $1.25 billion
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| Issue: | Sustainable notes
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| Maturity: | Sept. 21, 2027
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| Bookrunners: | Barclays, BNP Paribas (billing and delivery), Goldman Sachs Bank Europe SE, HSBC and JPMorgan
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| Coupon: | 4%
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| Price: | 99.646
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| Yield: | 4.039%
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| Spread: | SOFR mid-swaps plus 61 bps, or Treasuries plus 42.7 bps
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| Trade date: | Sept. 14
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| Settlement date: | Sept. 21
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| Distribution: | Regulation S
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| Price talk: | SOFR mid-swaps plus 62 bps area
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| ISIN: | FR001400CRX1
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