France Sells €10 Billion Debt Despite Fiscal ‘Danger Zone’

France’s latest bond sale raised €10 billion ($11.7 billion) from orders more than 10 times that amount, showing investors still have faith in the country even as its budget deficit risks what the central bank’s chief calls a “danger zone.”

Final demand was revised lower to €106 billion, falling well short of a record set a year ago, though it was still enough for the Treasury to tighten pricing from initial guidance to five basis points over comparable bonds, according to people familiar with the matter. The amount raised was a record for the 20-year tenor.