Chicago, July 8 – Region Ile-de-France priced €700 million of 2.23% sustainable senior notes with a 10-year tenor (Aa2//AA) on Friday, according to information from a market source.
The notes priced with a 99.938 discount to yield 2.237%, or at a spread of 40 basis points over interpolated OATs.
Guidance was for a spread in the 42 bps area.
At the close of books, interest was above €1.4 billion.
Bookrunners were BNP Paribas, Credit Agricole CIB, HSBC and Natixis. Natixis handled billing and delivery for the Regulation S issue.
Proceeds will be used predominantly for green projects fully aligned with the European taxonomy (climate change mitigation) for public transport and sustainable buildings.
Issuer: | Region Ile-de-France
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Amount: | €700 million
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Issue: | Sustainable senior notes
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Maturity: | July 19, 2032
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Bookrunners: | BNP Paribas, Credit Agricole CIB, HSBC and Natixis
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Coupon: | 2.23%
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Price: | 99.938
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Yield: | 2.237%
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Spread: | OATs plus 40 bps
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Trade date: | July 8
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Settlement date: | July 19
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Ratings: | Moody’s: Aa2
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| Fitch: AA
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Distribution: | Regulation S
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Price talk: | OATs plus 42 bps area
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ISIN: | FR001400BCS5
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