France Sells €12 Billion Bonds in Last Auction Before Budget
- Treasury received solid demand for sale of 10- to 30-year debt
- PM Barnier has unveiled plans to cut spending and raise taxes
Photographer: Julie Sebadelha/AFP/Getty Images
This article is for subscribers only.
France’s final bond offering ahead of next week’s budget announcement went off without a hitch, giving Prime Minister Michel Barnier’s new administration a much-needed win.
The Treasury raised €12 billion ($13.2 billion) from a sale of debt on Thursday — in line with the maximum amount that the government said it was seeking. Appetite for the debt, which was split between maturities ranging from 10 to 30 years, was 2.5 times larger than the amount sold, broadly matching demand seen at the two most recent sales of similar maturities.