The Region Ile-de-France, rated AAA/Aaa, announces that it is to establish a Euro 1 billion EMTN programme.
The Region consulted all major international and domestic financial institutions for the arrangership of the programme and after an extensive selection process has appointed BNP Paribas and Merrill Lynch as arrangers.
The Region has also appointed the dealers of the programme: BNP Paribas, Merrill Lynch, ABN AMRO, CDC Marchés, Deutsche Bank, Dexia Capital Markets, HSBC-CCF, J.P. Morgan, Morgan Stanley and UBS Warburg.
In 1998, the Region Ile-de-France was the first French local authority to launch a Euro-denominated bond issue. With the establishment of this programme, the Region continues to lead the way for European and French local authorities by embracing innovative structures for accessing international debt capital markets. The Region is the first AAA European local authority and the first French region to establish such a programme.
The programme will be listed in Paris and Luxembourg. It will allow the Region Ile-de-France to meet its principal objective of increasing its flexibility to tap the international capital markets in various maturities (with a maximum of 15 years), currencies and structures, whilst optimising its all-in cost of funding in the debt markets. Furthermore, the programme will allow the Region to enhance its name recognition and diversify its investor base into the international debt capital markets.