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Investment bankingFebruary 3 2004

Smooth sailing for linkers deal

Goldman Sachs drew on its expertise in inflation-linked bonds in an innovative 15-year issue for Agence France Trésor. Geraldine Lambe reports on how it suggested the move and helped make the deal.
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Goldman Sachs is something of an expert in inflation-linked products: it has been leading the market with economic auctions and is a lead bank of the French debt management agency, Agence France Trésor.

“Over the past two or three years, Goldman Sachs has intensified coverage of the Trésor, because our focus on inflation products enables us to see exactly where the flows are going and therefore to have a more meaningful dialogue with this crucial issuer in the inflation-linked market,” says Alejandro Garcia, associate in debt capital markets at Goldman Sachs.

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