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AFT announces a modification of the..........>

FRANCE
FRANCE: AFT announces a modification of the borrowing programme for 2020, to
reflect big increase in financing needs in the face of COVID-19-induced deficit:
- Total financing needs up from EUR246.1bln in March projection to EUR322.6bln,
the EUR76.5bln increase of which will be almost entirely financed by increased
bond/bill borrowing (EUR69.6bln).
- Now forecasts EUR245bln of M/L-T issuance net of buybacks. Was EUR210bln in
March projection, and EUR205bln in initial 2020 outlook.
- Now forecasts EUR62.1bln net increase in bills issuance. Was EUR27.5BLN in
March projection, and EUR10.0bln in initial 2020 outlook.

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