Covereds ‘on fire’ as investors lap up peripheral deals

By Tyler Davies
15 Mar 2019

Crédit Agricole Italia took 50% more covered bond funding than it had expected on Friday after being swamped with demand for a new eight year deal, while Banco BPI reopened the Portuguese covered bond market with a €500m transaction that received seven times as much interest from investors.

Crédit Agricole Italia, formerly known in the market as Cariparma, hired its own bank, Mediobanca, Natixis and UniCredit to arrange the sale of its eight year covered bond, with which it said it was expecting to raise €500m.

But demand flooded in for the new ...

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