Arkéa prints jumbo tap as euro system buying begins
The euro covered bond market began to show signs of life this week with Crédit Mutuel Arkéa pricing a rare dual tranche tap on Wednesday. It took a full five trading days from the formal start of the ECB purchase programme for primary supply to materialise, but euro system central bank participation in both maturities helped the French issuer print an impressive €1bn extension in turbulent conditions.
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