Cariparma breaks record completing 2018 funding
Crédit Agricole Cariparma took advantage of the exceptionally tight spread environment to issue the first 20 year Obbligazioni Bancarie Garantite (OBG) on Thursday and completed the final leg of its 2018 funding requirement at a record spread through BTPs.
The issuer raised €500m of 20 year covered bond funding at 40bp over mid-swaps from an initial spread of low 40bp area, with demand of around €700m. The deal follows the issuer’s €750m eight year issued in December and completes its €1.25bn 2018 funding requirement.Joint lead managers ...
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