Carrefour Banque debut tightens as senior market eyes upside
Carrefour Banque’s three year was trading as much as 55bp tighter in secondary on Wednesday morning, amid a quiet market that bankers say is now considering the chances of further tightening to be greater than the likelihood of conditions deteriorating.
The French bank majority owned by Carrefour, the supermarket group launched its 600m debut senior benchmark on Tuesday. Leads BBVA, BNP Paribas, HSBC and Société Générale opened books on the three year deal at 250bp over mid-swaps.
By the time the deal had closed with 6bn of
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