Obligation Assimilable du Trésor (OAT) - Financial definition
Financial acronyms
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Concise definition of the term Obligation Assimilable du Trésor
OAT are French government bonds issued with maturities between 7 and 50 years.
Comprehensive definition of the term Obligation Assimilable du Trésor
Like all French government securities, they are issued by auctions with bidding being the exclusive right of primary dealers in French government securities (Spécialistes en Valeurs du Trésor or SVT).
OATs pay annual coupons, have a face value of 1 EUR and the applicable day count convention is act/nAct.
They can be stripped into zero-coupon bonds.
There are also series of inflation-indexed issues on both French and Eurozone CPIs.