FRENCH GROUP ISSUES TWO BONDS FOR 700 MLN FRANCS
Groupement pour le financement des
Ouvrages de Batiment, Travaux Publics et activites annexes
(GOBTP) plans to launch two variable-rate domestic bonds
totalling 700 mln francs, lead managers Credit Commercial de
France (CCF) and Caisse Centrale des Banques Populaires (CCBP)
said.
    The first 500 mln franc 12-year bond, led by CCF, will be
issued at 99 pct with interest based on the annualised money
market rate (TAM) and payable on April 21 every year with the
first coupon paid next year.
    The second 200 mln franc 12-year bond, led by CCBP, will be
issued at 99 pct with interest also based on TAM with the same
coupon payment date.
    Both bonds will in principle be redeemable at par on April
21, 1999.
 REUTER
