More French regions set for MTN market as government pulls funds

By Craig McGlashan
29 May 2014

A growing sector of the medium term note market could receive an extra injection of diversity, after a new report from Moody’s this week predicted that swingeing cuts to French local and regional governments’ budgets will increase debt levels.

That, coupled with bankers scrambling to find new credits to satiate investor demand, is likely to lead to more new names in the bond market, said bankers.

Moody’s expects that an €11bn reduction in transfers from the central government to regional and local authorities between 2014 to 2017 – ...

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