GCE signals no respite for issuers

September 10, 2008 12:00 am

French issuer Groupe Caisse d’Epargne braved the market on Monday with a two year deal at 51bp over mid-swaps, in line with the repricing of the market. In a sign of the nervous times, books were only officially opened after the shadow book gave the issuer and leads such confidence that they could be closed very shortly afterwards to reduce execution risk. Read EuroWeek on Friday to find out how the deal was received.

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