Créd Ag adds to long end action in covered bonds

By Tyler Davies
25 Apr 2019

Crédit Agricole has become the latest European bank to tap into strong demand for long-dated covered bonds in euros, raising €1.25bn of 15 year funding on Wednesday without paying a new issue premium to investors.

BBVA, Crédit Agricole, ING, LBBWand Société Générale started the pricing for the deal in the 15bp area over mid-swaps when they opened the books on Wednesday.

But investors had put in about €2.4bn of orders within an hour and a half, allowing ...

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