France sells extra 1.604bn euros of long-term bonds

PARIS: France sold an extra 1.604 billion euros ($2.22 billion) of long-term bonds in the wake of its April 30 auction, the public debt management agency, Agence France Tresor, said on Monday.

The additional sales included 769 million euros of the 2.25 percent May 2024 OAT and 835 million of the 2.50 percent 2030 OAT, taking total proceeds from this month's auction to 9.587 billion euros.

Under the French system, buyers not only submit competitive bids at the auction, but also have the option, for a limited period after the sale, of buying extra securities at the average auction price.

The extra amount they can buy is calculated according to how active they have been at previous sales.