France issues €6bn of BTFs at negative rates

Related Content Related Video Related Articles

Agence France Trésor (AFT), which manages French government debt, said France has borrowed €3.395bn over 13 weeks as part of an overall €6.065bn issue of short term debt via BTF instruments at a negative rate.

Issued on 13 April 2015, the BTFs (bons du Trésor à taux fixe et à intérêts précomptés) are negotiable fixed-rate short-term discount Treasury bills and the French government’s cash management instrument. They are used to cover short term fluctuations in the government’s cash position.

France has issued €3.395bn of three-month BTFs (13 weeks) with a rate of -0.189% against -0.175% for the last issuance on 7 April 2015.

The AFT has also issued €1.275bn of six-month BTFs (24 weeks) and €1.395bn of one-year BTFs (50 weeks), both with a weighted average rate of -0.196%.

As of 28 February 2015, the French government negotiable debt outstanding reached €1.54trn.


Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

Close Window
View the Magazine

I also agree to receive editorial emails from InvestmentEurope
I also agree to receive event communications for InvestmentEurope
I also agree to receive other communications emails from InvestmentEurope
I agree to the terms of service *

You need to fill all required fields!