The Oat, literally Obligations Assimilables du Trésor, are more commonly known as French government bonds and are issued by the Treasury (or Agence France Trésor).
In short, Oats are long-term bonds with maturities that can range from 7 to 50 years. They join short-term bonds, the Btf, which can have maturities of up to one year. The category is also enriched by medium-term bonds, the Btan, which instead have shorter maturities ranging from 2 to 5 years.
Being government bonds, Oats are issued on a regular basis by the French government with the aim of meeting the needs of the country, its indebtedness and also institutional activities. They are negotiable, together with the government bonds of other EU members, on the MOT, i.e. the electronic market for bonds and government securities.
