Covered Bonds
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Deal priced inside guidance in contrast to an earlier Slovakian deal from VUB -
Issuer’s price target was not met, but outcome was still impressive
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Orders for the well subscribed deal continued to flood in after spread was set
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French financial group has raised €6.5bn in the covered bond market so far this year
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Issuing bonds set to grow tougher for weaker credits or those looking to borrow for longer
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Bonds price flat to TD as short maturity catches central bank bid
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Issuers urged to move quickly as further reductions anticipated
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EU six year auction slammed as 'super-weak'
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It was the most subscribed covered bond of this size issued since January
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BMO has raised €4.75bn out of total euro Canadian issuance of €18.5bn so far this year
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A publicly placed deal is unlikely and comes amid paucity of debut issuance
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A larger deal was possible, but the building society didn’t need the funding
