Chicago, April 25 – Caisse des Depots et Consignations priced €1 billion of 3% sustainability bonds due 2029 (Aa2/AA) on Thursday, according to a source.
The bonds priced at 99.836 to yield 3.036%, or at mid-OATs plus 16 basis points. Guidance started in the 20 bps area but was revised in the first couple of hours after books opened to the 17 bps area, with a 1 bp allowance on either side of the revised guidance.
Societe Generale (billing and delivery), BNP Paribas, Citigroup, Commerzbank and La Banque Postale were lead managers for the Regulation S deal.
The final order book was over €11 billion.
Proceeds will be used for eligible projects under CDC’s green, social and sustainability bond framework.
The listing will be in Paris.
The public sector financial institution is based in Paris.
| Issuer: | Caisse des Depots et Consignations
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| Amount: | €1 billion
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| Issue: | Sustainability bonds
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| Maturity: | May 25, 2029
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| Bookrunners: | Societe Generale (billing and delivery), BNP Paribas, Citigroup, Commerzbank and La Banque Postale
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| Coupon: | 3%
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| Price: | 99.836
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| Yield: | 3.036%
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| Spread: | Mid-OATs plus 16 bps
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| Trade date: | April 25
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| Settlement date: | May 3
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| Ratings: | Moody’s: Aa2
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| S&P: AA
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| Distribution: | Regulation S
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| Price talk: | Mid-OATs plus 20 bps area; revised guidance to 17 bps area
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| ISIN: | FR001400PU76
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