Rural roars with sustainable Cédulas

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Rural roars with sustainable Cédulas

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One whole and two bited green apples fruit on white | Lakhesis/PerfectLazybones - stock.adobe.com

Caja Rural de Navarra (CRN) priced the first Spanish covered bond in almost three months flat to its curve and with the highest subscription ratio of any investment grade (IG) covered bond issued this year. The recently upgraded sustainable offering, which was rated six notches above the Kingdom of Spain, also offered a rare spread pick-up over the sovereign.

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