Excess demand for BPCE’s covered bond hits four year low

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Excess demand for BPCE’s covered bond hits four year low

BPCE 230x115

BPCE returned to the covered bond market on Monday to issue a €1bn eight year deal. Although the new issue premium was modest, the slightly tricky tenor may have deterred some investors and the subscription ratio was the lowest BPCE has experienced in four years.

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