Over the nine first months of 2018, Caisse Française de Financement Local raised EUR 4.6 billion through benchmark public issues and tap issues enabling it to extend its reference curve, while at the same continuing to work on the private placements segment.
Caisse Française de Financement Local raised money in the primary public market three times in 2018, for a total amount of EUR 3.5 billion:
• a dual tranche issue (8 and 15 years) in January for a total amount of EUR 1.5 billion;
• a 10-year issue in April for an amount of EUR 1.5 billion;
• a 20-year issue in September for an amount of EUR 0.5 billion; this particularly long-dated public issue extended Caisse Française de Financement Local’s reference curve by three years.
At the same time, Caisse Française de Financement Local provided additional liquidity for two of its benchmark issues via taps for a cumulative amount of EUR 0.3 billion.
In addition to these public transactions, Caisse Française de Financement Local remained active in the private placement segment, particularly on EMTNs and registered covered bonds (RCB), allowing it to meet investor demand for long and very long-dated maturities. Some EUR 0.8 billion was raised in this market segment in total.
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