French Sovereign
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This week's funding scorecard looks at the progress French agencies have made in their funding programmes so far this year.
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Guarantor: Kingdom of Belgium (51.41%), Republic of France (45.59%) and Grand Duchy of Luxembourg (3.00%)
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MUFG has relocated 21 staff to Paris, including all its European DCM origination bankers, all its sales people who cover European investors and an MTN banker.
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Société de Financement Local (SFIL) is preparing a green bond framework ahead of a debut trade for the development bank and its subsidiary, Caisse Française de Financement Local (Caffil).
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A French agency and a Belgian sub-sovereign are preparing to issue their first bonds.
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The SSA green bond market looks set for a busy few weeks, with the Dutch sovereign and Instituto de Crédito Oficial (Ico) primed to print debuts following SNCF Réseau’s tapping its green paper on Thursday.
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SNCF Réseau reopened its December 2047 green bonds for a €250m tap on Thursday, with the issuer bumping up the liquidity of its long dated debt.
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A French public sector borrower is ready to hit the road to market its inaugural benchmark bond, following the launch of its Euro Medium Term Note programme at the end of last year.
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Unédic, the French unemployment agency, is looking to make its foray into the socially responsible bond market.