#ECOT2611943ACreation of French Treasury Bonds at 3.25% Due 25 February 2032
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This order creates a new line of French Treasury bonds in euros, with a nominal value of €1 per bond, a 3.25% annual interest rate, and repayment at par on 25 February 2032. Interest will be paid each year on 25 February, starting in 2027. It mainly affects investors, financial institutions, and intermediaries handling these securities. France will not repay the bonds early during the loan period, but it may buy them back or exchange them on the market.
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Key Changes
- Creates a new euro-denominated French Treasury bond line with a 3.25% annual coupon
- Sets repayment at par on 25 February 2032, with annual interest payments starting on 25 February 2027
- Bars early redemption by the state, while allowing market buybacks or exchanges
Obligations
What this law requires
The issuer or the intermediary managing the book-entry account must pay annual interest of €0.0325 per €1 bond on 25 February each year, with the first payment due on 25 February 2027.
The issuer or the intermediary managing the book-entry account must redeem each bond at par value of €1 on 25 February 2032.
Interest payments and redemption amounts must be made only after deducting taxes that the law requires, or may require, to be borne by bondholders.
The French State must not redeem the Treasury bonds early by amortisation during the full term of the loan.
The bonds must stop accruing interest from the date on which they are called for redemption.