Redenomination of the CADES' debit into euros

CADES is one of the first European issuers to offer a large amount (approximately FRF105 billion or 16 billion euros) of liquid issues in euro since January, 4th 1999.

Reflecting its close ties with the State, CADES is the only French issuer which is authorised to redenominate its domestic debt into euro in accordance with the French Treasury's procedures and timetable, as it first announced a year ago.