{"id":5995,"date":"2025-09-11T07:09:33","date_gmt":"2025-09-11T05:09:33","guid":{"rendered":"https:\/\/foncier.fr\/?p=5995"},"modified":"2025-09-11T07:09:33","modified_gmt":"2025-09-11T05:09:33","slug":"cff-issues-e750-million-on-better-terms-than-france","status":"publish","type":"post","link":"https:\/\/foncier.fr\/en\/cff-issues-e750-million-on-better-terms-than-france\/","title":{"rendered":"CFF issues \u20ac750 million on better terms than France!"},"content":{"rendered":"<p><strong><em>On September 3<sup>rd<\/sup>, Compagnie de Financement Foncier (Ticker Bloomberg : CFF) launched a 5.5-year benchmark offering.<\/em><\/strong><\/p>\n<p>CFF&#8217;s order book grew steadily, reaching nearly \u20ac1 billion at 11:30 am. This allowed CFF to set the issue size at \u20ac750 million and the spread at MS+47 bps, marking a tightening compared to the launch.<\/p>\n<p>The order book subsequently continued to grow, ultimately reaching \u20ac1.15 billion, representing an oversubscription ratio of 1.5 times, demonstrating investor interest in the current environment.<\/p>\n<p>We observed very good participation from central banks and official institutions, with notable subscriptions.Banks accounted for approximately one-third of the orders. A few pension funds and insurance companies also participated.<\/p>\n<p>The final order book included more than 55 distinct investors, with a strong participation from French investors (approximately 25% of orders), followed by German investors (approximately 21%).<\/p>\n<p>CFF thus demonstrated its ability to navigate a complex market, a testament to its leadership in the run-up to the September 8 confidence vote, which could have temporarily closed the market to French issuers.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>On September 3rd, Compagnie de Financement Foncier (Ticker Bloomberg : CFF) launched a 5.5-year benchmark offering. CFF&#8217;s order book grew steadily, reaching nearly \u20ac1 billion at 11:30 am. This allowed CFF to set the issue size at \u20ac750 million and the spread at MS+47 bps, marking a tightening compared to the launch. The order book [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/posts\/5995"}],"collection":[{"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/comments?post=5995"}],"version-history":[{"count":1,"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/posts\/5995\/revisions"}],"predecessor-version":[{"id":5996,"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/posts\/5995\/revisions\/5996"}],"wp:attachment":[{"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/media?parent=5995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/categories?post=5995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foncier.fr\/en\/wp-json\/wp\/v2\/tags?post=5995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}