SNCF sets stabilization period for $1.25 billion 0.625% bond due 2023

By Sarah Lizee

Olympia, Wash., May 14 – SNCF SA is holding a stabilization period for $1.25 billion of 0.625% bonds due May 20, 2023, according to a pre-stabilization notice filed with the London Stock Exchange.

The stabilizing managers are Nomura, Barclays, Citi, Goldman Sachs International and Morgan Stanley, with Nomura as stabilization coordinator.

The stabilization period began on Wednesday and is expected to end no later than June 19.

The issue may carry a greenshoe of up to 5% of the aggregate nominal amount of the issue.

The issuer is in charge of financing for the French state-owned railway.

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