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  Christine Lair
  > Tel : +33 (0)1 73 28 87 36
  > Email : christine.lair@sfil.fr

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• Recent press releases

  • Press Release – Outstanding success of Sfil group’s second bond issue of 2025
    17 January, 2025

    Sfil group has successfully launched its second public issue of 2025, and its first issue of the year on the SSA market. For an amount of EUR 1.5 billion with a 5-year long maturity, this transaction will boost the liquidity and attractiveness of Sfil’s curve.

    The transaction met with very strong demand from international investors, with an order book reaching EUR 6 billion and an oversubscription rate of x4. A total of 125 investors participated in the transaction, with a diversified allocation. This is the largest transaction for the Sfil signature in terms of order book size and number of investors involved.

    With 18 basis points over the equivalent maturity OAT, this transaction equals the previous record for a Sfil Euro transaction with the narrowest spread over the French sovereign.

    “With a record order book size and number of investors for the Sfil signature, This transaction wraps up a very successful start to the year 2025. This long 5-year benchmark issuance supported by broad investor participation reflects our commitment to providing stable, long-term financing solutions for French local authorities and exports. We extend our sincere gratitude to our investors for their ongoing trust and support.” Philippe Mills, CEO of Sfil and Chairman of the Supervisory Board of Caffil

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  • Press release – Great success for Sfil Group’s first issue of the year 2025
    10 January, 2025

    After issuing the last French covered bond in November 2024, Caffil has successfully reopened the market with its first public transaction of 2025. This transaction was launched under covered bond format for an amount of 1.25 billion euros and with a maturity of long 8 years.

    This issue was greeted by particularly strong demand, with a total of 150 investors participating. The order book reached EUR 5 billion, with an oversubscription rate of x4, testifying to the solid recognition of the Caffil signature.

    This transaction was priced at 69 basis points above the swap curve, equivalent to -8 basis points versus the OAT.

    This first issue opens the 2025 financing program of Sfil group, which has planned to issue between EUR 8 and 10.5 billion in total:

    • Planned issuance by Sfil in the SSA market in a range between EUR 2.5 and 4 billion,
    • Planned covered bond issuance by Caffil in a range between EUR 5.5 and 6.5 billion,
    • At least one green issue and one social benchmark in 2025.

    “We are very please with the strong market reception of our first covered bond benchmark of the year. The strong orderbook and high quality investor participation demonstrate the continued confidence in Caffil’s credit strength and our role as a leading European covered bond issuer. We sincerely thank our investors for their continued trust and support. “

    Philippe Mills, CEO of Sfil and Chairman of the Supervisory Board of Caffil

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  • Press release
    16 December, 2024

    Starting 16 December 2024, Caisse Française de Financement Local (CAFFIL) has
    required S&P Global Ratings to withdraw the rating of its obligations foncières and
    Registered Covered bonds (AA+ rating reaffirmed by S&P Global Ratings on 16
    December 2024). Caffil’s obligations foncières and Registered Covered bonds are
    now rated Aaa/AAA by Moody’s and DBRS respectively.
    Sfil remains rated Aa2/AA-/AA (High) by Moody’s, S&P Global Ratings and
    DBRS respectively.

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