LBP pays less than 5bp NIP on pref senior debut

By Tyler Davies
04 Jul 2019

La Banque Postale took its first step into the preferred senior bond this market, securing €750m of tightly priced senior funding in the euro market on Thursday.

The French lender hired BNP Paribas, Commerzbank, Deutsche Bank, Morgan Stanley, Nomura and UBS to arrange the transaction, which had a seven year tenor.

The leads went out with initial price thoughts in the 60bp area over mid-swaps, but guided investors towards ...

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