Créd Ag and ING find senior’s other sweet spot
While a succession of European banks plundered the five to seven year maturity bracket of the senior unsecured market this week, two banks were chasing another deep pocket of demand for short dated floating rate notes.
Crédit Agricole printed a €1.75bn two year FRN through its own investment bank on Wednesday, while on the same day ING Groep sold a €1bn 18 month deal through Deutsche Bank and ING.
The two banks took a different approach to most senior deals in Europe this week,
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