CrédAg hoovers up demand for vanilla senior after French vote

Tyler Davies

April 25, 2017 02:00 PM

Credit_Agricole_PA_230x150 — Moody's ratings agency said Wednesday Sept. 14, 2011, it had downgraded by one notch top French banks Societe Generale and Credit Agricole while leaving BNP Paribas on negative watch. Credit Agricole's rating slid from Aa1 to Aa2 while Societe Generale was cut from Aa2 to Aa3. Shares in all three banks have plummeted in recent weeks on exposure to Greek sovereign debt and turbulence caused by the eurozone debt crisis. File picture : Credit Agricole SA headquarters are pictured in Paris, France, on November 28, 2002. Photo by Lucas Schifres/ABACA. | Schifres Lucas/ABACA/PA Images

Crédit Agricole attracted close to €4bn of orders for a new 10 year preferred senior bond on Tuesday, riding a tremendous rally in credit spreads following the weekend's well-received election result.

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Topics

Senior Debt BNP Paribas Europe Crédit Agricole France EMEA FIG Société Générale

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Tyler Davies