No results found for "".

Commentary & Deal Flow

Related Parents

Related Issuers

by Oleksandr Vynychuk

Sep 22, 2026 5:33 AM ET

LAUNCHED: SNCF SA €500m TAP of Green Long 9yr Sr Unsec; OAT+19bp

IGC European Market: Deal Flow - SSA

Issuer	Term	Maturity	Size	Ranking	Type	ISIN	Guidance	Spread Set
SNCF SA	Long 9yr	17-Feb-36	€500m	Sr Unsec	Fixed	FR0014017XI3	OAT+22a	OAT+19

Launched: Long 9yr: €500m @ OAT+19bp - Books in excess of €930m (incl. €50m JLM)
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
Coupon: 3.875% Fixed Annual, Act/Act (ICMA), Short first
Settlement: 29-Sep-26 (T+5)
Maturity: 17-Feb-36
Spread Set: OAT 3.50% 25-Nov-35 + 19bp
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
ISIN: FR0014017XI3 (immediately fungible)
Timing: Books open / Today's business
Books to close: 11h00 UKT / 12h00 CET