18 September 2025: AFT’s issuance: 11.500 billion euros of medium-term OATs

This morning, Agence France Trésor auctioned the OAT 0.75% 25 May 2028, the OAT 2.40% 24 September 2028, the OAT 2.70% 25 February 2031 and the OAT 3.50% 25 November 2033.

See below for auction details.

The total amount issued may be increased by non-competitive bids 2 (NCT2), which will take place on Friday 19 September 2025.

OAT
25/05/2028
0.75%
OAT
24/09/2028
2.40%
OAT
25/02/2031
2.70%
OAT
25/11/2033
3.50%
Auction date 18/09/2025 18/09/2025 18/09/2025 18/09/2025
Settlement date 22/09/2025 22/09/2025 22/09/2025 22/09/2025
Amount bid* 7,495 11,526 12,562 8,203
Amount served* 2,105 2,871 4,428 2,096
Stop price 96.10% 100.18% 99.54% 101.98%
Percentage served at stop price 22.52% 100.00% 100.00% 100.00%
Bid to cover ratio** 3.56 4.01 2.84 3.91
Weighted average price 96.12% 100.18% 99.55% 102.00%
Weighted average rate 2.26% 2.34% 2.79% 3.22%
ISIN Code FR0013286192 FR001400XLW2 FR001400Z2L7 FR001400L834