24 October 2002: The new 30-year OAT linked to the euro-area price index gets €4bn subscriptions

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Francis Mer, minister of the Economy, Finance and Industry, is delighted at the success of the first issue of a 30-year OAT (fungible Treasury bonds) linked to the euro-area Harmonised Index of Consumer Prices (excluding tobacco). Agency France Tresor allocated €4 billion worth of the new OAT, for a total €5.97 billion bid. The real interest yield for this issue is 3.20%. This new OAT provides a second point on the curve of real interest rate bonds in the euro area. The issued amount comprises €3.09 billion in direct subscriptions and €0.91 billion to be exchanged for the inflation-indexed OATi maturing in July 2029. This amount also enables a good level of liquidity of the secondary market.

The geographical sources of the direct subscriptions are as follows: France, €1.06 billion (34%); euro area excluding France, €0.99 billion (32%); and world excluding the euro area, €1.03 billion (34%). The large range of subscriber categories investing in this issue is comparable to what had been noted one year ago for the July 2012 OAT€i, also linked to the euro-area Harmonised Index of Consumer Prices (excluding tobacco).

Once again, the volume of demand and the diversity of the subscribers confirm the appeal of the French government securities and their innovative character on this world market.