SNCF RESEAU (EPA:RFAD) - SNCF Réseau - Press release 11.03.19 Benchmark USD

Transparency directive : regulatory news

15/03/2019 12:27

Not for distribution, directly or indirectly in the United States or to US
persons

PRESS RELEASE

PARIS, The 11 th of March 2019

SNCF RESEAU ANNOUNCES A SUCCESSFUL USD DENOMINATED BENCHMARK BOND ISSUANCE

SNCF Réseau, the French rail way infrastructure manager, announces having
executed on Friday the 8th of March 2019 its 3rd public benc hmark bond
issuance denominated in USD and its 1 st one since the French Railway Reform
announces . The transaction has a three- year matu rity (Mar. 2022) and an
outstanding nominal of USD 1.5 billion. It met an uncommonly high demand (it
bigg est USD book ever), aggregating more than USD 2.41 billion orders, spread
over 20 countries and 45 acc ounts . The spread of Mid-Swap USD+21 bp, is the
lowest margin ever achieved by SNCF Réseau in USD. Only two days after the
transaction it even tightens by 2 bp into the secondary market, showing
consistent residual demand from the investors.

This USD denominated public benchmark issue fully cope s with SNCF Réseau's
investor base diversific ation strategy . France represents a neglig ible part
of the transaction, LaTam is once again well represent ed as well as Asia and
North America. Several brand new accounts bring quality and diversification to
the trade. At last, the transaction has gathered uncommonly significant
interests from high quality international investors , made for more than 80% of
Central Banks, Sovereign & Supranational institutions (CB/OI) . The
diversification target is then more than achieved.

SNCF Réseau mandated Citi, Deutsche Bank, Morgan Stanley, Nomura , and
Société Génerale CIB as joint bookrunners of this transaction.

Depending on market conditions, SNCF Réseau intends to keep on issuing each
year at least one public benchmark in USD.

SNCF RESEAU CONTACTS

Audrey Breton - Press Contact, audrey.breton@reseau.sncf.fr

Guillaume Hintzy - Group Treasurer, Executive Director Financing and
Treasury, +33 (0)1 45 19 28 50, guillaume.hintzy@reseau.sncf.fr

Nicolas Marchessaux - Financial Market Operations & Investors Relations,
+33 (0)1 45 19 28 54, nicolas.marchessaux@reseau.sncf.fr

sncf.reseau.investisseurs@reseau.sncf.fr

These materials are not for distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any State of the
United States and the District of Columbia). These materials do not constitute
or form a part of any offer or solicitation to purchase or subscribe for
securities in the United States. The Notes referred to herein have not been and
will not be registered under the United States Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold in the United
States or to US persons unless the Notes are registered under the Securities
Act or pursuant to an exemption from the registration requirements of the
Securities Act. There will be no public offer of securities in the United
States.

SNCF RESEAU's latest news

13/08/2019 13:16

SNCF RESEAU (EPA:RFAD) - SNCF Réseau - Press release 11.03.19 Benchmark USD

Transparency directive : regulatory news

SNCF RESEAU's latest news

Other stories