Dear Madam, dear Sir,
Welcome to the Caisse d’Amortissement de la Dette Sociale (CADES) website. This site contains all the information you need to better understand our mission, our financial and regulatory environment, our financing and amortisation mechanisms.
At December 31, 2019, €171.4 billion were amortised, which represents two-third of the debt assumed since 1996, illustrating the effectiveness of our amortisation mechanisms. There remains now 89.1 billion euros of social debt still to amortize.
The health crisis linked to the COVID19 pandemic is substantially modifying our economic and financial environment.While, thanks to the merger with Agence France Trésor in 2017, CADES operational continuity is secured, preliminary elements linked to this crisis impact are outlined in the press release published on April 2, 2020 following CADES Board approval of its accounts for the 2019 financial year, available on this website homepage.
In the future, we plan to remain very active in the short, medium and long-term issuance markets as we continue to offer our international investors a wide range of financial instruments, both by maturity and in several currencies.
Jean-Louis Rey
Chairman of the Board
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