Caisse d'Amortissement de la Dette Sociale $1 billion fixed rate bond issue

Overview:

• Caisse d'Amortissement de la Dette Sociale (CADES) issued $3.25 billion fixed rate notes due 2021. 
• BNP Paribas, Citigroup Global Markets, JPMorgan Securities and The Royal Bank of Scotland acted as underwriters.
• CADES is a sinking fund established to redeem French social debt.
• The offering had applications of French, English and US law. 

John Crabb - Journalist