DEBT ISSUES
FOR THE PUBLIC SECTOR

PUBLIC SECTOR DEBT CAPITAL MARKETS

Who is concerned by bond market financing:

Communities: Municipalities, Unions, Departments, Regions
Public organizations: Local or national such as Autonomous Authorities, Ports, Hospitals
Local public organizations: mixed private/public companies
Companies which benefit from public sector guarantees

Bonds are a means of direct financing for local governments in the capital markets. They provide diversification of sources of financing allowing investments to be funded for the long-term.

Advantages:

Possibility of borrowing for 1 – 40 years.
Competitive debt cost based on the French government bond (OAT) yield curve
A source of funding which is simple, stable and at a fixed rate, and which respects the Gissler 1A chart.
A new source of financing, diversifying and sustaining your cash position.

Do not hesitate to contact us directly if you would like more information or to schedule a meeting!

1982

The Defferre law on decentralization comes into effect

1- Removal of administrative guardianship, replaced by legal tests of prefectoral services and the regional audit chamber

2- Transfer of the departmental executive from the prefect to the president of the general council.

3- Elevation of the region to a full-fledged territorial authority.

4- Split of competences between the government and local authorities and transfer of resources.

1986
Market opening

Until 1986, CDC was the only lender authorized to finance local governments. The Galland Act emphasized the need for moderate changes in local government resources and greater autonomy to ensure their financing.

1990
First rating