
RFF is a 100 % French state owned entity, benefiting from the bankruptcy remote legal status of EPIC (Public Establishment of an Industrial and Commercial Nature) created by the law No. 97-135 of 13 February 1997 for the purpose of reorganising French rail transport. RFF is the owner and manager of France’s railway infrastructure.
October 2011 the 7th and 14th
RFF adds-up € 150 millions, then € 100 to it Euro public 12 years benchmark (4.5% 30/01/2024) bringing the total outstanding to € 2,45 billions, via Barclays then HSBC.
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Réseau Ferré de France : a top quality issuer…
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Long-term |
Short-term |
| Fitch |
AAA |
F1+ |
| Moody’s |
Aaa |
P-1 |
| Standard & Poor’s |
AA+ |
A-1+ |
…rare but recurrent in the international markets…
Annual long-term issuance since 1997

Currency breakdown since 1997

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…with liquid benchmark issues focused on long-term maturities…
From money market products (commercial papers) to long-term issuances
2002 : Launch of a 50-year sterling market bond
2003 : Launch of a 30-year euro bond
2006 : Launch of a 25-year Swiss franc bond
Launch of a 30-year Canadian dollar bond
…and innovative products in order to meet investors requirements…
Tailor made private placements, inflation linked bonds, and Public Private Partnerships (a new class of investment)
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