the French AFT released its funding..........>

FRANCE: the French AFT released its funding targets for next year. For issuance

of long term debt net of buybacks, the number is E195.0bln in 2018 and compares

to the 2017 total of E213.1bln (E193.1bln in OATS and E20bln in linkers). Note

that the AFT bought back E28.1bln of debt last year.

- In terms of details, the AFT plans "one new benchmark maturing in February

2021, one new 5-year benchmark, one new 10-year benchmark and one new 15-year

benchmark"

- Furthermore the Agency says that "After launching a new 10-year bond linked to

French inflation (OATi) in 2017, AFT will aim for a syndicated issue of a new

security linked to euro area inflation (OATei) in 2018 with a maturity of 15 to

20 year"

- If there is strong demand the AFT says it will also consider auctioning a new

10Y OATei.

- AFT will also continue to tap the recently introduced Green bond.