Unedic intends to sell 15-year social bonds through five bookrunners

By Devika Patel

Knoxville, Tenn., July 8 – Unedic (Aa2//AA) plans to issue 15-year social bonds “in the near future,” according to a market source.

Barclays, BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC are the bookrunners.

Proceeds from bonds issued under the agency’s social bond framework, such as these, will be used by Unedic to successfully carry out its mission of compensating, protecting and supporting workers, helping companies to preserve jobs in cases of economic or health crisis, and neutralizing periods of job loss through the contribution to supplemental retirement regimes.

The French unemployment insurance agency is based in Paris.

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