SAGESS rings the bell at the occasion of a new bond issued on Euronext Paris
François Martin, CEO SAGESS, opens the European trading day.
SAGESS (Société Anonyme de Gestion des Stocks de Sécurité) was created in 1988 on the initiative of oil operators and under the aegis of public authorities. Nominated as the Central Stockholding Entity for France by a 28-Dec-2012 decree, SAGESS is entrusted with the unique mission of stockpiling and managing strategic stocks of crude oil and oil products, the latter being at the disposal of the Government. As of 1st July 2015, SAGESS manages 12.8 MT Eqpf (Equivalent finished products) of oil products representing 74% of France’s reserve obligation.
Thanks to its diversified financing and responsive financial policy, SAGESS is recognized for its high financial stability. With this new benchmark, SAGESS extends and staggers its debt maturity profile up to 2027.
As a Government Related entity, SAGESS is rated AA (S&P, Neg outlook), aligned to French Republic rating and can be considered among the best credits among French issuers.