BPIM and CM-CIC get over finishing line

Crédit Mutuel-CIC (CM-CIC) and Banca Popolare di Milano (BPIM) issued 10 year covered bonds into relatively weak market conditions on Wednesday. Because of its larger size and tighter spread the French deal was probably the frailer of the two, and while both issuers met their funding targets in terms of size and spread, neither proved particularly popular.