Chicago, April 26 – Unedic (Aa2//AA) priced a €1 billion offering of 10-year social bonds on Wednesday, according to a source involved in the deal.
The offering priced with a 3.125% coupon at 99.739 to yield 3.156%, or at mid-OATs plus 20 basis points.
Guidance was in the mid-OATs plus 24 bps area.
The bonds come with an explicit, unconditional and irrevocable guarantee from the republic of France.
BNP Paribas, Citigroup, JPMorgan, Natixis and NatWest are bookrunners with JPMorgan handling billing and delivery.
Proceeds will be used exclusively to carry out missions that meet the eligibility criteria under Unedic’s social bond framework.
The French unemployment insurance agency is based in Paris.
| Issuer: | Unedic
|
| Amount: | €1 billion
|
| Issue: | Social bonds
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| Maturity: | April 25, 2033
|
| Bookrunners: | BNP Paribas, Citigroup, JPMorgan (billing and delivery), Natixis and NatWest
|
| Coupon: | 3.125%
|
| Price: | 99.739
|
| Yield: | 3.156%
|
| Spread: | Mid-OATs plus 20 bps
|
| Trade date: | April 26
|
| Settlement date: | May 4
|
| Distribution: | Regulation S
|
| Price talk: | Mid-OATs plus 24 bps area
|
| ISIN: | FR001400HQB8
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