Commentary & Deal Flow

Guidance: 10yr: OAT+27a

• Issuer: Action Logement Services
• Ticker: ALSFR
• Issuer Ratings: Aa3 (negative) / A+ (stable) by Moody’s/Fitch
• Format: Senior, Unsecured, Reg S Bearer Dematerialized, Sustainable Bonds
• Coupon: Fixed, Annual, ACT/ACT ICMA, Unadjusted Following
• Tenor: 10yr
• Size: € Benchmark
• Settlement Date: 16-Jul-26 (T+5)
• Maturity Date: 16-Jul-36
• Guidance: Interpolated OATs (MID) + 27bps area
• Ref. Bonds: FRTR 1.25% 25-May-36 & FRTR 3.70% 25-Nov-36
• Denominations: €100k + €100k
• Documentation: Issuer’s Sustainable EMTN programme
• Listing: Luxembourg-EuroMTF & Paris-Euronext Growth
• Settlement: Euroclear France
• Governing Law: French
• Lead Managers: Barclays/BNPP/Natixis/Natwest/SG
• Timing: Books are open, today's business
• Target Market: Eligible Counterparties and Professional clients (all distribution channels)
• Advertisement: The final Prospectus, when published, will be available at https://www.bourse.lu/issuer/ActionLogeServ/97084
• Investor Presentation: https://groupe.actionlogement.fr/sites/default/files/2026-07/2026%2007%20-%20Pr%C3%A9sentation%20investisseurs%20-%20EN_VF.pdf