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Agence France Trésor announces today the launch of the new OAT 2.00% 25 May 2048. After the opening of the order book on Tuesday morning and its completion at midday, total demand reached more than €31bn, of which €7bn were allocated.
The price has been set at 100.069, reflecting a yield of 1.997% at issuance.
Lead managers for this operation were BNP Paribas, Citigroup, HSBC, JP Morgan et SG CIB. All the primary dealers were part of the syndicate.
The allocation reflects a large order book arising from a very diversified investor base. More than 200 final investors took part in the transaction. The syndicated amount has been allocated to asset managers for 41%, insurance and pensions funds for 23%, banks for 18%, official institutions for 9 % and hedge funds for 9%.
The geographical distribution reflects a strong demand from European and International investors for French government bonds with long maturities, with United Kingdom representing 31%, Germany 23%, France 14%, other Eurozone 12%, other Europe 10%, North America 6% and Asia & Middle East 4%.
The settlement date for the OAT is 25 May 2017. The bond will be strippable and quoted on Euronext Paris. It will be tapped to guarantee sufficient market liquidity, and depending on market demand.
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