France snags €3bn with linker

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By Lewis McLellan
08 Jul 2020

France hit screens with a 15 year inflation-linked bond on Wednesday, raising €3bn with its first syndicated linker since 2018, capitalising on growing demand for inflation-linked products.

France selected BNP Paribas, Crédit Agricole, Citi, HSBC and Nomura to run the books for a March 2036 inflation linked benchmark. The leads opened books with price guidance of 20bp area over the 2028 inflation linked OAT.

The transaction comes only a few ...

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