
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.
March the 6th & 8th 2012
In only 48 hours of time, RFF has accessed twice the ultra-long term bond market, by tapping for £ 100 millions its Sterling 50 years benchmark (RFF 4,83% 25/03/2060), via Banco Santander, pushing-up the total outstanding to £ 550 millions, then coming up on the Euro market with a € 590 millions, 50 years trade (RFF 4,125% 22/03/2062), via Deutsche Bank.
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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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