A transaction welcomed by investors
This is the association's largest debt issuance since the Covid-19 crisis. The interest rate set at 3.768% reflects investors’ confidence in Unédic’s management of the unemployment insurance scheme, with a spread of just 9 basis points compared to comparable French Treasury bonds.
A funding requirement of €10 billion for 2026
This fundraising forms part of a €10 billion financing programme for 2026, intended to cover the projected deficit, repay maturing medium- and long-term debt, and continue to reduce short-term debt. Unedic emphasises that the State’s levies from unemployment insurance revenue continue to weigh on its finances, making this recourse to the markets necessary, all the more so at a time when the first repayments of the ‘Covid debt’ are due.
Funds earmarked for securing career pathways
The issue complies with the ICMA’s Social Bond Principles, an international framework that guarantees transparency regarding the use of funds. In line with its mission, Unédic intends to allocate these resources to protecting employees against economic uncertainties and supporting them towards sustainable employment.
Breakdown by investor type
Breakdown by geographical area
