SFIL's €15 Billion EMTN Program Updated Following Moody's Downgrade

SFIL has released a second supplement dated 26 December 2024 to its €15 billion Euro Medium Term Note (EMTN) Program's base prospectus. This amendment follows Moody's downgraded SFIL's long-term senior debt rating from Aa2 to Aa3 on 17 December 2024. The update addresses changes in the Social and Sustainability Bond Framework, now including French public hospitals' loans. The regulatory updates respond to Article 23 of the Prospectus Regulation with AMF approval anticipated.

Key prospectus sections, including uses of proceeds, risk factors, and issuer descriptions, have been amended. Notably, the ratings by S&P remained at AA-, while DBRS assigned an AA (high) rating. Moreover, the program may issue unrated or differentially rated notes. Eligible social loans now fall under the expanded bond framework, ensuring transparent allocation reporting accessible via SFIL’s website.