CADES is to launch a fixed rate 10 year Eurobond issue of £ 250 million
PRESS RELEASE
CADES (Caisse d'Amortissement de la Dette Sociale) is to launch a fixed rate eurobond issue maturing on 5th March
2008, for an amount of £ 250 million. The coupon attached is 6.25 %. The reoffer price of the issue has been fixed at
98.944 %, giving a reoffer spread of 35 bp higher than the December 2007 Gilt.
Merrill Lynch International has been appointed lead manager. Senior co-lead is Natwest. Co-leads are ABN Amro,
Barclays, HSBC, Paribas, Socgen and SBCWDR.
This new issue confirms CADES'intention to broaden and to diversify its investor base.
CADES is a French state-owned establishment, rated AAA by the main financial rating agencies. It has been awarded a
Cooke ratio of 0%, and as such its paper is considered to be of the highest standard, comparable to that of a sovereign
issuer.
Press contacts:
Gavin Anderson & Company
CADES
François Decaux
Tel : (33-1) 53 83 93 13
Isabelle Viry & Christophe Frankel
Tel: (33-1) 44 87 70 59