Chicago, Sept. 7 La Poste priced a 1.2 billion sustainable two-part offer (A+/A+) on Wednesday, according to a market source.
The two notes came in even 600 million tranches.
A six-year tranche priced with a 2.625% coupon at 99.323 to yield 2.749%, or with a spread of 45 basis points to mid-swaps. Alternatively, the spread priced as 139 bps to Bunds.
A long 10-year tranche priced with a 3.125% coupon at 99.073 to yield 3.232%. The notes priced with a spread of 77 bps to mid-swaps, or alternatively 165.8 bps to Bunds.
Credit Agricole CIB, HSBC (billing and delivery), ING, La Banque Postale and Societe Generale are listed as the joint bookrunners.
Proceeds will be allocated towards financing or refinancing both green and social eligible projects.
Listing will be on Euronext Paris.
The issuer is a postal service company based in Paris.
| Issuer: | La Poste
|
| Amount: | 1.2 billion
|
| Issue: | Sustainable notes
|
| Bookrunners: | Credit Agricole CIB, HSBC (billing and delivery), ING, La Banque Postale and Societe Generale
|
| Trade date: | Sept. 7
|
| Settlement date: | Sept. 14
|
| Ratings: | S&P: A+
|
| Fitch: A+
|
|
|
| Six-year notes
|
| Amount: | 600 million
|
| Maturity: | Sept. 14, 2028
|
| Coupon: | 2.625%
|
| Price: | 99.323
|
| Yield: | 2.749%
|
| Spread: | Mid-swaps plus 45 bps, or Bunds plus 139 bps
|
|
|
| Long 10-year notes
|
| Amount: | 600 million
|
| Maturity: | March 14, 2033
|
| Coupon: | 3.125%
|
| Price: | 99.073
|
| Yield: | 3.232%
|
| Spread: | Mid-swaps plus 77 bps, or Bunds plus 165.8 bps
|
|
|
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