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FIGCovered Bonds

Santander draws demand away from Créd Ag

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Santander went up against Crédit Agricole with a 12 year covered bond on Thursday. Although the Spanish lender announced its deal after the French bank, a generous start ensured Santander sucked demand from the French deal, which was also hurt by a lower than expected European Central Bank order. Santander also issued a deeply negative yielding five year that attracted excellent demand.

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