By Rebecca Melvin
New York, March 24 – Unedic priced €3 billion of 0.01% social bonds due 2031 on Wednesday at 99.646 to yield 0.045%, or mid-swaps plus 1.6 basis points, according to a market source.
Barclays, BofA Securities, BNP Paribas, Deutsche Bank and JPMorgan were bookrunners of the Regulation S issue, that is guaranteed by the Republic of France.
Proceeds from bonds issued under the agency’s social bond framework are used by Unedic to accomplish its mission of compensating, protecting and supporting workers, helping companies preserve and contributing to supplemental retirement regimes.
Unedic is a Paris-based independent association that provides unemployed people with social benefits.
| Issuer: | Unedic
|
| Guarantor: | Republic of France
|
| Securities: | Social bonds
|
| Amount: | €3 billion
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| Maturity: | May 25, 2031
|
| Bookrunners: | Barclays, BofA Securities, BNP Paribas, Deutsche Bank and JPMorgan
|
| Coupon: | 0.01%
|
| Price: | 99.646
|
| Yield: | 0.045%
|
| Spread: | Mid-swaps plus 1.6 bps
|
| Pricing date: | March 24
|
| Settlement date: | April 1
|
| Distribution: | Regulation S
|
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