BNPP grabs non-pref senior despite signs of weakening market conditions
BNP Paribas launched a non-preferred senior bond in euros on Wednesday, tightening the pricing 20bp from price thoughts despite a 'softer' backdrop in financial markets.
Acting as sole bookrunner, BNP Paribas launched a €1bn six year non-call five bond at 75bp over mid-swaps.
The French lender started the pricing for the sale of the non-preferred senior instrument in the 95bp area.Two hours into the trade, guidance was set at 75bp-80bp, with ...
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