BNP Paribas goes tight as market lives up to hype
The covered bond primary market lived up to supply expectations this week with five issuers tapping the market in the first two days of the week. BNP Paribas stood out, showing the strength of its brand, and the market, by pricing the tightest French covered bond deal of the year.
BNP Paribas, which is rated A2/A+/A+, opened books for a five year €1bn no-grow Société de Financement de l'Habitat on Monday morning.
At the same time Landesbank Hessen-Thüringen opened books for a five year €1bn public sector Pfandbrief on Monday (see separate story).
BNP Paribas mandated itself, Credit
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