Commentary & Deal Flow

Reoffer: 12yr: SARON MS+52 / 100 / 1.29%
Benchmark: 12yr: Govt. +77

Spread set at: 12yr: SARON MS+52bp
IPTs: 12yr: SARON MS+52a

• Issuer: Caisse Francaise de Financement Local (CAFFIL)
• Issuer Domicile: France
• Format: Public Fixed Rate Green Bonds
• Status: Covered Bonds (Obligations Foncieres)
• Instrument Rating (exp): Aaa (Moody's) / AAA (DBRS)
• Sustainability Rating: AA (MSCI) / Prime C (ISS ESG)
• Issue Size: CHF 100m
• Coupon: 1.29% p.a.
• Maturity: 08-Jul-38 (from 08-Jul-26)
• Issue Price: 100
• Spread/Yield: SARON MS +52.0 / YTM 1.29% / Govt. +77
• Settlement: 08-Jul-26
• ISIN / Security Number: CH1571219257 / 157121925
• Lead Manager: UBS
• SNB Repo-eligibility: At the discretion of the SNB, expected no
• Documentation: Under the Issuer’s EMTN Programme, base prospectus dated 01-Jun-26
• FinSA Prospectus: Delayed Swiss prospectus approval in accordance with art. 51(2) FinSA
• Governing Law: French
• Covenants: PP
• SIX Listing: 06-Jul-26
• Denomination: CHF 5000
• Use of Proceeds: Proceeds will be used to finance and/or refinance, in whole or in part Eligible Green Loans as defined in the Sfil Group Green, Social and Sustainability Bond Framework
• Sales Restrictions: As per the Issuer's EMTN programme