The French local government funding agency, Agence France Locale, has successfully launched its first bond issue. The transaction of €750m was quickly oversubscribed; firm interest of over € 1.3bn was shown within the first hours after the launch. The bonds have a maturity of 7 years with a spread of OAT+22bp. The proceeds of this transaction will be on-lent to French local authorities for the financing of local infrastructure investments.
See the press release here.