NEW ISSUE: SNCF SA €500m WNG TAP of Green Feb-2036 Sr Unsec; OAT+22a
IGC European Market: Deal Flow - SSA
Issuer
Term
Maturity
Size
Ranking
Type
ISIN
Guidance
SNCF SA
Long 9yr
17-Feb-36
€500m WNG
Sr Unsec
Fixed
FR0014017XI3
OAT+22a
Guidance: Long 9yr: OAT+22a
Issuer:SNCF SA
Ticker: SNCF Govt
LEI: 969500A4MXJ3ESPHK698
Rating: A1/A/A+ (Moody's/S&P/Fitch)
Format: Senior Unsecured, Reg S Bearer dematerialised form (TEFRA not applicable)
Current O/S: €500m
Tap Size: €500m WNG
Coupon: 3.875% Fixed Annual, Act/Act (ICMA), Short first
Settlement: 29-Sep-26 (T+5)
Maturity: 17-Feb-36
Guidance: MID OAT 3.50% 25-Nov-35 + 22bps area (Equiv. to MS+ 111.4bps)
Law/List/Denoms: French / Euronext Paris / 100k+100k
Bookrunners: Barclays / BofA Securities (B&D/DM) / J.P. Morgan / La Banque Postale / Societe Generale
Target Market: The manufacturer target markets (EU MiFID II/UK MiFIR product governance) as assessed by the lead managers are professional & eligible counterparties (all distribution channels)
Fees: The bookrunners will be paid a fee in connection to the transaction (EU MiFID / UK MiFIR)
UoP: To finance Green eligible investments in line with SNCF SA's Green Securities framework