Commentary & Deal Flow

Guidance: Long 8yr: OAT+20a

• Issuer: Agence France Locale
• Ticker: AFLBNK Govt
• Guarantor: Agence France Locale – Société Territoriale (the “ST”) and Members of the Agence France Locale Group
• LEI: 969500NMI4UP00IO8G47
• Ratings: A+/A+ (S&P/Fitch)
• Format: Senior Unsecured Notes, RegS Bearer Dematerialised form, Sustainability bond
• Status: Senior Unsecured, HQLA1
• Size: €500m (WNG)
• Coupon: Fixed, Annual, ACT/ACT, short first coupon
• Maturity: 20-Mar-35
• Settlement: 27-Aug-26 (T+4)
• Guidance: OATs (MID) +20bps area (currently equivalent to ~MS+90bps area)
• Ref. Bonds: FRTR 3% 25-Nov-34 and FRTR 3.20% 25-May-35
• Denominations: €100k + €100k
• Listing: Euronext Paris Regulated Market
• Law: French law
• Bookrunners: Credit Agricole CIB, Deutsche Bank, NatWest, Nomura and Nordea
• ESG structurer: Credit Agricole CIB
• Timing: Books open, today's business
• Sustainable Bond Framework: https://www.agence-france-locale.fr/app/uploads/2023/02/afl_sustainability-bond-framework_vf_eng.pdf
• 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://www.agence-france-locale.fr/en/page-investisseurs_eng/funding/prospectus/)