Commentary & Deal Flow

Reoffer: 3yr: MS+17bp / 99.977 / 2.883% 8yr: MS+45bp / 99.778 / 3.282%
Benchmark: 3yr: OBL#189 2.1% 29-Apr-29 @ 98.855% / B+35.3bp / HR 108% 8yr: DBR 4.75% 04-Jul-34 @ 114.332% / B+54.9bp / HR 90%

3yr: Final Books €1.8bn (incl. €170m JLM). Peak book > €2.1bn
8yr: Final Books €1.0bn+ (incl. €195m JLM). Peak book > €1.2bn

Launched:
3yr: €750m @ MS+17bp - Books > €2.1bn (incl. €170m JLM and pre-rec)
8yr: €500m @ MS+45bp - Books > €1.2bn (incl. €195m JLM and pre-rec)
Book Update: Orderbooks in excess of €3.0bn (incl. €365m JLM interest), slightly skewed towards the 3yr
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: €750m
  • 8yr: €500m
• Reoffer:
• • 3yr: MS+17bp, 99.977%, 2.883%
  • 8yr: MS+45bp, 99.778%, 3.282%
• Benchmark:
• • 3yr: +35.3bp vs OBL#189 2.1% 29-Apr-29 (px 98.855% - HR 108%)
  • 8yr: +54.9bp vs DBR 4.75% 04-Jul-34 (px 114.332% - HR 90%)
• Coupon:
• • 3yr: 2.875% Fixed, Annual Act/Act ICMA
  • 8yr: 3.25% 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: Priced TOE 3y 15.50CET / 8y 15.53CET - FTT 3y and 8y 16.05CET
• Advertisement: The Base Prospectus, any supplements thereto, and the Final Terms (when published) are available at https://foncier.fr/prospectus-emtn/