Eurazeo's exchangeables offered on negative coupon

Crédit Agricole’s zero coupon 2016 exchangeable bond into French investment company Eurazeo is the first European deal since the crisis to have been offered with negative yield at the tightest end of the pricing range.

  • By Nina Flitman
  • 22 Nov 2013
The 2016 exchangeable bonds, which were launched alongside the block sale of 3.2m Eurazeo shares by the French bank, were offered with a gross yield to maturity of between -0.98% and 0%. The deal priced at the best end of the indicative range for investors, with a conversion ...

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