Agence France Trésor announces today the launch of the new OAT 0.75% 25 May 2053. After the opening of the order book on Tuesday early morning and its completion at midday, total demand reached almost €30bn, of which €5bn were allocated.
The price has been set at 95.376, reflecting a yield of 0.918% at issuance.
Lead managers for this operation were Barclays, BNP Paribas, BofA Securities, Crédit Agricole CIB and Nomura. All the primary dealers were part of the syndicate.
The allocation illustrates the diversity and the quality of the investor base on which relies the French sovereign Debt. Around 200 final investors took part in the transaction. The syndicated amount has been allocated to asset managers for 45%, banks for 19%, insurers for 16%, pension funds for 9%, official institutions for 6% and hedge funds for 5%.
The geographical distribution reflects a strong demand from European and International investors for French government bonds with long maturities, with the United Kingdom representing 41%, Germany 20%, France 14%, the Netherlands 4%, Italy 3%, other Eurozone countries 6%, Nordics 8%, other European countries 2%, Asia 1%, and 1% for other countries.
Further details
The settlement date for the OAT is 13 July 2021. The bond will be strippable and quoted on Euronext Paris. It will be tapped depending on market demand to guarantee sufficient market liquidity.
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