Cades prints biggest ever social bond with debut

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By Burhan Khadbai
09 Sep 2020

Caisse d’Amortissement de la Dette Sociale (Cades) made an impressive debut in the social bond market on Wednesday with the biggest ever deal in the format by any issuer, overtaking the previous record set by Unédic earlier in the year.

Cades announced its intention to issue social bonds last week to help finance an increasing deficit in France’s social security system, which has led to an extra €20bn in the agency’s funding needs for the year and its mandate being extended from 2024 to 2033.

The agency ...

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