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Commentary & Deal Flow

NEW ISSUE: SFIL € bmk 7yr Sr Unsec; OAT+21a

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

Guidance

SFIL

7yr

07-Mar-33

bmk

Sr Unsec

Fixed

OAT+21a


Guidance: 7yr: OAT+21a


  • Issuer: SFIL
  • Ticker: SFILFR Govt
  • LEI: 549300HFEHJOXGE4ZE63
  • Ratings: Aa3 (neg.) /A+ (stab.) /AA (stab.) (Moody's/S&P/DBRS)
  • Format: Senior Unsecured Notes, Reg S Bearer Dematerialised form
  • LCR Treatment: HQLA Level 1
  • Size: € Benchmark
  • Coupon: Fixed, Annual, ACT/ACT, short first coupon
  • Maturity: 07-Mar-33
  • Settlement: 07-May-26 (T+5)
  • Guidance: OATs (MID) +21bps area (currently equivalent to MS+63bps area)
  • Ref. Bonds: FRTR 2% 25-Nov-32 & FRTR 3% 25-May-33
  • Denominations: €100k + 100k
  • Listing: Euronext Paris Regulated Market
  • Law: French law
  • Bookrunners: Citi, Crédit Agricole CIB, HSBC, La Banque Postale, Morgan Stanley and Societe Generale (B&D)
  • Documentation: The Issuer’s €20bn EMTN Programme (Base Prospectus dated 10-Jun-25 and first supplement dated 10-Oct-25 and its second supplemental dated 31-Oct-25)
  • Timing: Books open, today's business
  • Target Market: MIFID II / MIFIR professionals/ECPs-Only/No PRIIPs KID – Manufacturer target market (MIFID II / MIFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA (or in the UK).
  • Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The prospectus, supplements and the final terms will be available on the website of the AMF http://www.amf-france.org) and of the Issuer (https://sfil.fr/en/sfil-group-investors/)