Key facts
- France's Agence France Trésor (AFT) allotted €13.998 billion in long-term government bonds (OATs).
- The auction included OATs with maturities from 2036 to 2057.
- Total bids received amounted to €37.044 billion.
- Weighted average rates ranged from 3.80% for the 2036 OAT to 4.55% for the 2057 OAT.
- Settlement for the bonds is scheduled for June 8, 2026.
France's Agence France Trésor (AFT) allotted €13.998 billion of long-term government bonds (OATs) across four different securities on Thursday. The issued bonds included €9.226 billion of the 3.70% OAT due November 25, 2036, €1.971 billion of the 4.00% OAT due October 25, 2038, €1.711 billion of the 3.60% OAT due May 25, 2042, and €1.090 billion of the 4.40% OAT due May 25, 2057. Total bids submitted for these bonds amounted to €37.044 billion, resulting in bid-to-cover ratios that varied from 2.41 to 3.33 across the four securities. The 2036 OAT was sold at a weighted average rate of 3.80% and a weighted average price of 99.16%. The 2038 OAT cleared at a weighted average rate of 3.92% with a price of 100.76%. The 2042 OAT was allotted at a weighted average rate of 4.16% and a price of 93.58%, while the 2057 OAT was allotted at a weighted average rate of 4.55% and a price of 97.56%. A significant portion of the bonds, specifically 73.36% of the 2036 bond, was allotted at the stop price, with the other three lines fully allotted at their respective stop prices. Settlement for all four OAT lines is scheduled for June 8, 2026. AFT also noted that the total amount issued could be increased through non-competitive bids (NCT2) on June 5, 2026.