Ile de France has put its name to a euro500 million ($893.42 million) French CP programme. BNP Paribas and HSBC CCF are the joint arrangers. Jerome Pellet, public sector origination at HSBC CCF, says: "This is a really important move as it is the first French region to sign a CP programme. We are sure that the programme will do well and that we will see more French regions coming to the market." The signature comes six months after Ile de France signed its long-awaited euro1 billion Euro-MTN programme. The issuer has still to make its first issue off the facility but Andre Autrand, chief financial officer at Ile de France, says: "We are preparing an MTN issue of euro100 million and people will see this on their screens in the next few weeks." Ile de France used the Bloomberg network to market its MTN programme and Autrand is considering it for the new facility. Autrand says: "We will use all means to speak with investors and this includes electronic devices such as the Bloomberg, roadshow, which we used for our MTN programme." Moody's and Standard & Poor's rate the programme P-1 and A-1+ respectively. The appointed dealers on the programme are the arrangers, CDC IXIS Capital Markets, CIC, Credit Agricole Indosuez, Natexis-Banques Populaires and SG.
November 16, 2001