SSA, covered borrowers left to sweat over French election
The race for the French presidency has put pressure on the country’s government bonds (OATs), prompting price moves which could have far-reaching consequences for both covered bond issuers and public sector borrowers. Lewis McLellan reports.
The sell-off in French government bonds is making rates products that traditionally offer a spread over OATs look unattractively expensive, particularly at the long end.Crédit Mutuel’s eight year covered bond ended up raising only €750m of its €1bn target on Wednesday, and relied upon support from the ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org