Créd Ag adds to long end action in covered bonds

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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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