May 21, 2024 08:47 GMT
France OATei syndication
EGB SYNDICATION
- "The REPUBLIC OF FRANCE has mandated BNP PARIBAS, CITI, CREDIT AGRICOLE CIB, HSBC, J.P. MORGAN and MORGAN STANLEY to act as Joint Lead Managers on an upcoming new long-dated OAT€i benchmark, linked to the European harmonised index of consumer prices (excluding tobacco) and due 25th July 2043. The transaction will be launched by syndication in the near future, subject to market conditions."
- Note that we had this pencilled in for May. We wrote last week: "We look for a new French 20-year OATei in Q2. We pencil this in for May given that the second syndication of the year was brought forward into February (with 25-year Green and 30-year OATs having already been issued this year so far)."
- We pencil in a E3.0-4.5bln transaction size tomorrow.
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