IFLR1000

Republic of France €7 billion 1.75% green bond issue

31/1/2017
Investment grade bond/note issue, Sovereign bond issue, Green bond issue
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€ 7 billion

$ 7.481 billion

Completed

31/1/2017

Overview:

  • The Republic of France, working through its debt manager Agence France Trésor, has completed the issuance of its first sovereign green bond, releasing much needed liquidity. 
  • The €7 billion green OAT 1.75% notes are due 25 June 2039, which is the longest dated maturity date for a green bond ever. 
  • The bond just missed out on being the first government to issue a green bond, when Poland issued its €750 million notes in December. 
  • The bonds were issued as a benchmark in the implementation of the Paris Agreement of 2015. 
  • The bonds were oversubscribed to €23 billion.  
  • Agence France Trésor did not seek external legal counsel. 

John Crabb - Journalist 

 

Read further analysis of this deal on IFLR.com

Jurisdiction:

France

Deal types:

Investment grade bond/note issue
Sovereign bond issue
Green bond issue

Practice area:

Capital markets : Debt

Governing law:

France

Industry sector:

Government and public policy

Firm:
Linklaters

Party: Barclays (Lead manager)

Party: BNP Paribas (Lead manager)

Party: Crédit Agricole Corporate and Investment Bank (Lead manager)

Party: Morgan Stanley (Lead manager)

Party: Natixis (Lead manager)

Party: Société Générale Corporate & Investment Banking (Lead manager)

Party: Crédit Agricole Corporate and Investment Bank (Lead manager, Structuring advisor)

Lawyer: Véronique Delaittre

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