On 28 April, CAFFIL (SFIL Group) launched a €1bn issue of covered bonds1 to support investment by public hospitals in France. With a 5-year maturity and a coupon of 0.01%, this is the SFIL Group's second social bond issue dedicated to hospital financing2.
The issue of bonds has been a success, with book-building reaching €4.5bn and the participation of 130 investors. 39% of the subscribers are based in Germany and Austria, and 22% in France. 64% are banks and 22% are asset managers.
As the leading lender to public hospitals in France, the dedication of whose staff do honour to our country, we are proud to support them during this pandemic. This second social bond issue by SFIL Group met with a very positive reception, with 130 different investors participating and over €4.5bn raised.
SFIL is a signatory to the United Nations Global Compact, a commitment to adopt a responsible, integrated, principles-based approach to achieving the development goals set by the United Nations.
(1) A covered bond is a bond backed by mortgages or loans granted to local authorities or other similar loans.
(2) Following the first social bond issue in February 2019