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UPDATE 1-France to raise 7 billion euros from new green bond - lead managers

UPDATE 1-France to raise 7 billion euros from new green bond - lead managers

· 03/16/2021 08:30
UPDATE 1-France to raise 7 billion euros from new green bond - lead managers

Adds details

By Yoruk Bahceli

- France was set to raise 7 billion euros from the sale of its second green bond on Tuesday, according to memos from three lead managers seen by Reuters.

France is a leading issuer of green bonds - which fund environmentally friendly projects - having raised 28.87 billion euros via the inaugural green bond it first issued in 2017, according to Refinitiv.

The new green bond saw investor demand of 34.5 billion euros, slightly below the 36 billion euros it attracted before pricing was set, according to the memos.

It will price at an 18 basis point premium over France's existing green bond due June 2039, compared to 20 bps when the sale started, and pay a coupon of 0.5%, the memos said.

France hired BNP Paribas, Citi, Credit Agricole CIB, HSBC and JP Morgan for the deal on Monday. nL8N2LD2YL


(Reporting by Yoruk Bahceli; editing by Sujata Rao and Angus MacSwan)

((Yoruk.Bahceli@thomsonreuters.com; +44 20 7542 7571; Reuters Messaging: yoruk.bahceli@thomsonreuters.com))