Abanca Corporacion Bancaria did well to raise 10 year funding for its debut covered bond, which offered a generous spread, but even at just €750m the deal was still one of the least subscribed covered bonds of the year.
After completing a roadshow this week Abanca signalled its intention to press ahead with a deal in the seven to 10 year bucket on Wednesday.
Joint leads Crédit Agricole
, NatWest Markets
opened order books with guidance for a 10 year at 40bp
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