SG follows Credit Suisse and BPCE with floater

December 09, 2009 12:00 am

Société Générale is set to issue a three year FRN in euros on Wednesday. Books had reached over Eu1.6bn, half an hour before they closed, and the spread has been set at the tight end of the guidance, at 30bp over three month Euribor. It follows on from Credit Suisse’s Eu1.75bn floater and BPCE’s tap of its FRN last week, both of which proved very popular with investors. To find out what the latest issue means for the FRN market read EuroWeek on Friday.

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