The SFIL Group has successfully launched its first social bond issue, under covered bonds format issued by CAFFIL, for an amount of EUR 1 billion with a maturity of 8 years. This is the first social issue in Europe dedicated exclusively to financing public hospitals. It is also the first sustainable covered bond issued by a French issuer.
This transaction is part of SFIL's commitment to CSR and its public policy missions. It reflects the public development bank's commitment to providing strong support for the financing of social projects, particularly in the public health sector.
SFIL Group, as the leading public sector covered bond issuer in Europe, currently lends to over 1,000 public hospitals in France. With its social bonds program, the Group intends to be a regular issuer in this market segment, and to contribute to the development of the sustainable finance ecosystem.
Since it was set up in 2013, the SFIL Group has provided EUR 24 billion in new loans to the public sector, including EUR 2.9 billion in new loans to public hospitals, with maturities between 10 and 30 years.
“We are very pleased with the success of this first social issue focusing on financing public hospitals. The SFIL Group is contributing to meeting the United Nations sustainable development goals under the Global Compact, to which it is a signatory. As the main lender to the local public sector, SFIL will strengthen its key role in financing green and social projects inhealthcare, clean public transport, water and waste management sectors. This issue is a resounding success in every respect: issue amount, financing conditions, the total number of investors and the number of new investors (with 502 currently in our investor base)” affirmed Philippe Mills, CEO of SFIL and Chairman of the Supervisory Board of CAFFIL
About bonds issued by the SFIL Group
The SFIL Group – with its subsidiary CAFFIL - is the main European issuer of covered bonds secured by loans to public sector entities. Its bond issues provide adequate funding to cover the needs associated with the two missions that the SFIL Group has been entrusted with by the French State: the refinancing of loans to French local authorities and hospitals by its partner La Banque Postale, and the refinancing of large French export loans benefiting from a State guarantee (“enhanced guarantee”), as part of its refinancing platform for banks active in this sector.
With EUR 7 billion raised in 2018, the SFIL Group is the leading French public sector bond issuer after the State. Bonds issued by CAFFIL and SFIL are eligible for the purchase programs of the European Central Bank (PSPP and CBPP) and are classified in the best liquidity categories for regulatory ratios. They benefit from the Covered bond label and only have a hard bullet structure.
SFIL is a signatory to the United Nations Global Compact.
“Best Euro Covered Bond Issuer” - The Covered Bond Report – 2016.
“Best Euro Covered Bond Issuer” - The Cover - 2016
“Best Covered Bond Issuer” - CMD Portal – 2017, 2018, 2019
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