CREDIT COOPERATIF and RATP Finalize €500 Million Bond Issue

CREDIT COOPERATIF has announced the final terms for a €500 million bond issue by Régie Autonome des Transports Parisiens (RATP). The 3.250% Notes are set to mature on April 11, 2033, under the Euro Medium Term Note Programme, totaling €7 billion. The bonds target eligible counterparties and professional clients, in line with EU MiFID II product governance requirements.

The issue price was set at 99.179%, with a specified denomination of €100,000. Interest payments will commence on April 11, 2024, and continue annually until maturity. The notes are to be traded on Euronext Paris starting April 13, 2023, and are expected to achieve an AA rating from Fitch.

Proceeds are earmarked for financing RATP's investment program or bond buy-backs. The offering is syndicated, with BNP Paribas, Crédit Agricole Corporate and Investment Bank, HSBC Continental Europe, and Natixis as dealers. Estimated net proceeds are around €495 million.