By Rebecca Melvin
Concord, N.H., July 20 – Unedic priced €2 billion of 0.01% social bonds due Nov. 25, 2031, according to a market announcement.
The notes, which are guaranteed by the Republic of France, priced at 99.65 to yield 0.044%, or a spread over mid-swaps of about 8 basis points.
Barclays, BNP Paribas, Credit Agricole CIB, J.P. Morgan Securities and Natixis were the bookrunners of the Regulation S issue, which will be listed on the Euronext Paris exchange.
Proceeds from the bonds will be used to carry out Unedic’s missions that meet the criteria of the agency’s social bond framework.
Unedic is a Paris-based independent association that provides unemployed people with social benefits.
| Issuer: | Unedic
|
| Guarantor: | Republic of France
|
| Issue: | Social bonds
|
| Amount: | €2 billion
|
| Maturity: | Nov. 25, 2031
|
| Bookrunners: | Barclays, BNP Paribas, Credit Agricole CIB, J.P. Morgan Securities and Natixis
|
| Coupon: | 0.01%
|
| Price: | 99.65
|
| Yield: | 0.044%
|
| Spread: | Mid-swaps plus about 8 bps
|
| Pricing date: | July 20
|
| Settlement date: | July 27
|
| Distribution: | Regulation S
|
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