Unguaranteed foray for Crédit Agricole

April 01, 2009 12:00 am

Crédit Agricole priced the first public benchmark floater in unguaranteed format since September 2008 this week. The Eu1.5bn 18 month deal attracted over Eu1.8bn of orders and priced in line with the 100bp area over Euribor guidance. While the deal is another step in the right direction, it shows that yet again, demand for FIs remains relatively limited. What’s the outlook for unguaranteed issuance? Read EuroWeek on Friday.

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