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SNCF RESEAU (EPA:RFAD) - SNCF Réseau - Press release

Directive transparence : information réglementée Autres communiqués

30/09/2016 13:15

Not for distribution, directly or indirectly in the United States or to US
persons

PRESS RELEASE

PARIS, The 30th of September 2016

SNCF RESEAU ANNOUNCES A SUCCESSFUL USD DENOMINATED INAUGURAL BENCHMARK BOND
ISSUANCE.

SNCF RESEAU, the French railway infrastructure manager, announce having
executed on Thursday the 29th of September 2016 it first public benchmark
bond issuance denominated in USD. The transaction has a three years maturity
(new benchmark - Oct. 2019) and an outstanding of USD 1 billion. This
transaction met a high demand resulting in more than USD 1.26 billion of
cumulated orders, with a significant interest from high quality international
investors.

C.B O/I                          73%
Fund Manager                     17%
Banks                            10%

America                          34%
Switzerland                      24%
Europe (excl.FR)                 13%
Middle-East                      12%
Asia                             11%
France                            6%

This transaction cope with SNCF Réseau's funding strategy:

- Diversify the investor base by launching a new USD  denominated public
  benchmark program. With France representing only 6% of the allocation the
  diversification target is more than achieved.
- Offer greater liquidity and visibility of SNCF Réseau name by increasing the
  frequency of public benchmark issues on any maturities  (this transaction
  already followed a 20 years public benchmark issuance on March 2016 and a
  dual-tranche trade composed of a 5 years public benchmark and a 9 years
  syndicated  reopening of a public transaction).
- Enhance financial communication through a yearly extensive Investors
  Relations program in Asia, Europe, Middle East and North America.

SNCF RESEAU mandated BNP-Paribas, HSBC, Morgan Stanley, Royal Bank of Canad
a and Société Générale as joint bookrunners of this transaction.
Depending on market conditions, SNCF RESEAU intends to issue ea ch year at
least one public benchmark in USD.

SNCF RESEAU CONTACTS

Marina Marguier -Press Contact, +33 (0)1 85 57 96 88,
Marina.marguier@reseau.sncf.fr

Guillaume Hintzy - Vice Président Financing and Treasury,
+33 (0)1 45 19 28 50, guillaume.hintzy@reseau.sncf.fr

Nicolas Marchessaux - Financial Market Operations & Investors Relations,
+33 (0)1 45 19 28 54, nicolas.marchessaux@reseau.sncf.fr

sncf.reseau.investisseurs@reseau.sncf.fr

                                      ***

These materials are not for distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any State of the
United States and the District of Columbia). These materials do not constitute
or form a part of any offer or solicitation to purchase or subscribe for
securities in the United States. The Notes referred to herein have not been and
will not be registered under the United States Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold in the United
States or to US persons unless the Notes are registered under the Securities
Act or pursuant to an exemption from the registration requirements of the
Securities Act. There will be no public offer of securities in the United
States.