No results found for "".

Commentary & Deal Flow

Related Parents

Related Issuers

by Oleksandr Vynychuk

Sep 07, 2026 8:56 AM ET

PRICED: Société Nationale SNCF £250m Long 15yr Sr Unsec; UKT+65bp

IGC European Market: Deal Flow - SSA

Issuer	Term	Coupon	Maturity	Size	Ranking	Type	ISIN	Price	Yield	Guidance	Spread	GDNC-PXD
Société Nationale SNCF	Long 15yr	6.25%	22-Oct-41	£250m	Sr Unsec	Fixed	FR001401ARM6	99.952	6.253%	UKT+65a	UKT+65	0

Reoffer: Long 15yr: UKT+65bp / 99.952 / 6.253%
Benchmark: Long 15yr: UKT 1.25% 22-Oct-41 @ 56.684 (Mid) / 56.664 (Bid)

Launched: Long 15yr: £250m @ UKT+65bp
Guidance: Long 15yr: UKT+65a

Issuer: Société Nationale SNCF (Ticker: SNCF)
Issuer Rating: A1 / A / A+ (Moody's / S&P / Fitch)
LEI: 969500A4MXJ3ESPHK698
Format: Senior Unsecured, Reg S Bearer
Issue size: £250m
Maturity: 22-Oct-41
Settlement: 14-Sep-26 (T+5)
Coupon: 6.25% Annual, act/act, long first
Benchmark: UKT 1.25% 22-Oct-41 @ 56.684 (Mid) / 56.664 (Bid)
Spread: UKT+65bp
Re-offer: 99.952 / 6.253% Ann. / 6.158% S.A.
Denoms: £100k x 100k
Law: French Law
Listing: Euronext Paris (Regulated Market), including EURONEXT ESG Bonds
Documentation: Issuer's EMTN Programme
Target Market: Eligible counterparties and professional clients only (all distribution channels)
Joint Lead Managers: Goldman Sachs Bank Europe SE (B&D / DM) / NatWest / RBC Capital Markets
ISIN: FR001401ARM6
Timing: Priced / TOE 13:46 LDN / FTT 14:00 LDN
Use of Proceeds: The proceeds of the transaction will finance Green eligible investments in line with SNCF SA's Green Securities Framework
Note: PLEASE NOTE THAT £ PRICING IS VS MID GILTS AS PER ICMA GUIDELINES, BUT HEDGES WILL BE EXECUTED VS THE DM TRADER'S BID SIDE