25 June 2018 : Announcement: Syndicated tap issue of the Green OAT 1.75% 25 June 2039

In response to investors' warm welcome of the release of the first allocation and output report on the expenditure matched to Green OAT issuance in 2017 published last week, Agence France Trésor has announced a syndicated tap issue of the Green OAT 1.75% 25 June 2039 in the coming days, depending on market conditions

The lead managers for the issue will be BNP Paribas, Citigroup, Crédit Agricole CIB, Natixis and Société Générale CIB. All of the primary dealers will be members of the syndicate.

The Green OAT tap issue is another sign of France’s commitment to developing financing for energy transition in keeping with the December 2015 Paris Climate Agreement and with France’s position as the first sovereign issuer of a benchmark green bond.

The syndicated issue will be conducted as part of the financing for Green eligible expenditure identified for the year 2018. It will raise a total of €8bn, of which €1.1bn has already been issued at this point.

Syndication is used to complement auctions of tap issues rather than replace them. Auctions will still be the usual means of selling tap issues, as is the case for other OATs. The outstanding Green OAT issuance currently stands at €10.8bn, following three auctions of tap issues in the last 12 months.

+33 1 4004 1550