PARIS: France sold an additional 760 million euros in medium-term, fixed-rate notes following an auction on Nov. 15, debt management agency Agence France Tresor said on Monday.
AFT said it sold an extra 729 million euros of its 1.00 percent BTAN paper due in July 2017, and 31 million euros of its 0.75 percent BTAN maturing in September 2014.
It also sold an extra 154 million euros in inflation-linked bonds, comprising 64 million euros of its July 2016 BTAN tied to French inflation, 80 million of its July 2022 OAT linked to euro-zone inflation and 10 million of its July 2027 OAT linker also tied to euro-zone inflation.
The non-competitive bids mean France raised a total of 8.25 billion euros from the three lines of its Nov. 15 fixed-rate auction and 1.48 billion euros from the three lines of its linker auction.
It is customary for the Treasury to sell extra debt this way. 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 to buy 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.
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