Commentary & Deal Flow

Guidance: 3yr: MS+24a 8yr: MS+51a

• Issuer: Compagnie de Financement Foncier
• LEI: DKGVVH5FKILG8R13CO13
• Issue Type: Obligations Foncieres - ECB Eligible - Reg S Bearer - ECBC Covered Bond Label / CRDIV Compliant
• Ratings: Aaa/AAA/AAA (Moody's/S&P/Scope)
• Maturity Date:
• • 3yr: 06-Jul-29 (Soft Bullet)
  • 8yr: 06-Jul-34 (Soft Bullet)
• Settlement Date: 06-Jul-26 (T+5)
• Size:
• • 3yr: € Benchmark
  • 8yr: €500m (no-grow)
• Initial Guidance:
• • 3yr: MS+24bps area
  • 8yr: MS+51bps area
• Coupon:
• • 3yr: [●]% Fixed, Annual Act/Act ICMA
  • 8yr: [●]% Fixed, Annual Act/Act ICMA
• Business Day Convention: Following, Unadjusted basis
• Redemption Price: 100%
• Governing Law: French Law
• Documentation: Under the €125bn EMTN Programme
• Denomination: €100k + €100k
• Listing: Euronext Paris and Luxembourg
• Use of Proceeds: The net proceeds of the issue of the Notes will be used for the Issuer's general corporate purposes
• Selling Restrictions: As set out in the Base Prospectus
• MiFID II/UK MiFIR product governance: MiFID II / UK MiFIR – professionals / ECPs-only / No PRIIPs KID and no disclosure document required by the FCA Product Disclosure Sourcebook (DISC) – Manufacturer target market (MIFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) and no disclosure document required by the FCA Product Disclosure Sourcebook (DISC) has been prepared as not available to retail in the EEA or in the UK.
• Joint Bookrunners: BayernLB, Erste Group, LBBW, Natixis (B&D), Rabobank, Santander, SEB, UniCredit
• Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities
• ISIN:
• • 3yr: FR0014019MS1
  • 8yr: FR0014019MR3
• Timing: Books open for today’s business
• Advertisement: The Base Prospectus, any supplements thereto, and the Final Terms (when published) are available at https://foncier.fr/prospectus-emtn/