Sogecap offers juicy pick-up for sub print

An attractive pick-up over the parent company and a strong bid for insurance paper bode well for a subordinated deal from Société Générale's insurance subsidiary Sogecap on Tuesday, according to bankers away from the deal. A successful print from Sogecap will be encouraging for issuers like La Mondiale and Intesa Sanpaolo Vita, which are both expected to sell sub debt of their own in the near future.