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France Épargne Corporate

Debt raising

France Épargne Corporate connects companies seeking to finance €20m or more with the private debt funds whose ticket size, instruments and sectors match their case. The average cost of new bank loans above €1m stands at 3.54% in August 2026.

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The cost of corporate debt in 2026

3.54%
average cost of new bank loans above €1m in August 2026 (3.21% in August 2025)
3.87%
average cost of new debt securities issued in August 2026 (3.26% in August 2025)
98%
of mid-caps obtained the investment loan they requested from their bank in Q2 2026

Markets

Debt markets

  1. Bank debt

    €1,437bn of outstanding loans to French non-financial corporations at the end of August 2026.

  2. Private debt

    €14,849m invested in corporate debt in France in 2025.

    Private credit

  3. Market financing

    €759bn of outstanding debt securities of French non-financial corporations at the end of August 2026.

  4. Asset-based financing

    €439,430m of receivables purchased by factoring companies in France in 2025.

Market

Cost of credit and access to credit

Cost of new financing for non-financial corporations
FinancingAugust 2026August 2025
Bank loans above €1m3.54%3.21%
Bank loans of €1m or less3.84%3.65%
Debt securities issuance3.87%3.26%
All financing3.73%3.35%
Bank loans by company size at end August 2026
SizeOutstandingAnnual growthCost of new loansCost in August 2025
SMEs€550.3bn+2.2%3.71%3.39%
Mid-caps€398.8bn+0.8%3.74%3.59%
Large companies€238.8bn+6.1%3.40%3.02%
Access to bank credit in the second quarter of 2026
Loan requestedSMEsMid-caps
Investment loan96%98%
Short-term cash loan83%93%

Share of companies that obtained all or more than 75% of the loan requested. SMEs: 10 to 249 employees. Mid-caps: 250 to 4,999 employees.

Questions

Frequently asked questions

What does a new bank loan above €1m cost?
The average cost of new bank loans above €1m to non-financial corporations stands at 3.54% in August 2026. It was 3.21% in August 2025.
At what rate do mid-caps borrow from banks?
The average cost of new bank loans to mid-caps stands at 3.74% in August 2026. It is 3.40% for large companies and 3.71% for SMEs.
What share of mid-caps obtains the investment loan it requested?
98% of mid-caps obtained all or more than 75% of the investment loan they requested in the second quarter of 2026.
From what amount can a company request an introduction for a debt raising?
France Épargne Corporate introduces companies whose financing need reaches €20m or more to private debt funds.

Contact

Request an introduction to lenders

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Sources