2026
Great success for the Sfil Group’s second green bond of the year 2026
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Sfil Group launched its second green bond of 2026 under covered bond format via Caffil for an amount of EUR 750 million and a maturity of 10 years. The proceeds of this green bond will finance green investments by French local authorities and major French export contracts with environmental benefits.
In a highly volatile market environment, this Caffil transaction generated particularly high demand from investors, with an order book of EUR 2.8 billion. A total of 100 investors participated in the transaction.
This transaction, which is the 9th green bond of Sfil Group since 2019, is in line with the group’s target to carry out 33% of its issuance in ESG format over the 2024-2030 period.
With this transaction, Sfil Group has completed more than 90% of its annual funding plan.
| Transaction details Caffil – Covered Bonds EUR 750 m / Maturity : May 27th 2036 Coupon : 3.625% Spread : mid-swaps +51 bp / OAT -16 bp Bookrunners: Barclays, BBVA, BNPP, LBBW, Natixis | |||
| Geographic distribution: | Distribution by investor type: | ||
| Germany / Austria | 40% | Banks | 59% |
| France | 14% | Investment Managers | 31% |
| Iberian Peninsula | 12% | Central banks and Official institutions | 8% |
| Nordics | 11% | Insurance | 2% |
| Italy | 9% | ||
| United-Kingdom | 5% | ||
| Benelux | 4% | ||
| Asia | 2% | ||
| Others | 2% | ||
The yield for this transaction is 51 basis points above the swap curve, corresponding to a spread of 16 basis points under the OAT.
Launched under Sfil Group’s Green, Social and Sustainability Bond Framework updated in November 2024, the proceeds of this bond will be used to finance green investments by French local authorities and major French export contracts with environmental benefits eligible for the following green categories:
- Territorial mobility and soft urban transport
- Renewable energy
- Energy efficiency of construction and urban development
- Sustainable water and sanitation
- Waste management and valuation
“ I would like to thank all investors for their confidence on the occasion of this new issuance. The strong quality of demand and the continued broadening of our investor base demonstrate the strength of Caffil name and the market’s lasting interest in the Sfil group. This support reinforces our ability to finance, over the long term, the real economy and impact-driven projects. ”
Philippe Mills
CEO of Sfil and Chairman of the Supervisory Board of Caffil
