Chicago, Oct. 23 – BpiFrance priced its inaugural €1.25 billion offering of 3.5% social bonds due 2027 (Aa2//AA-) on Monday, according to a sellside source.
The bonds priced at 99.653 to yield 3.598%, or at OATs plus 39 basis points.
Price guidance was in the OATs plus 41 bps area.
A guarantee is provided by EPIC Bpifrance.
BNP Paribas (billing and delivery), Barclays, BofA Securities, Natixis and Societe Generale were the joint bookrunners.
Proceeds will be used to finance or refinance loans or expenses aimed at financing eligible social projects.
The listing will be on Euronext Paris.
The issuer is a French public investment bank, formed by the joint venture of Caisse des depots et consignations and EPIC BPI-Groupe.
| Issuer: | BpiFrance
|
| Guarantor: | EPIC Bpifrance
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| Amount: | €1.25 billion
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| Issue: | Social bonds
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| Maturity: | Sept. 27, 2027
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| Bookrunners: | BNP Paribas (billing and delivery), Barclays, BofA Securities, Natixis and Societe Generale
|
| Coupon: | 3.5%
|
| Price: | 99.653
|
| Yield: | 3.598%
|
| Spread: | OATs plus 39 bps
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| Trade date: | Oct. 23
|
| Settlement date: | Oct. 30
|
| Ratings: | Moody’s: Aa2
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| Fitch: AA-
|
| Distribution: | Regulation S
|
| Price talk: | OATs plus 41 bps area
|
| ISIN: | FR001400LPZ1
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