Gecina, Schneider, Total share euro buyers' bid for France

Paris Fotolia Mar 2016 230x150
By Alex Radford
22 May 2019

Three new French corporate bond issues came in Europe on Wednesday, as issuers decided it was worth exploring the very receptive demand in euros and sterling.

Gecina, the French Reit rated A3/A- (all stable) issued a €500m 15 year bond via BNP Paribas, Crédit Agricole, Crédit Mutuel-CIC, HSBC and Natixis.

Initial price thoughts of 125bp over mid-swaps led to books just after 11am of more than €2.5bn and the spread was cut to 100bp-105bp over mid-swaps. 

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