BNPP grabs non-pref senior despite signs of weakening market conditions

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By David Freitas
10 Jul 2019

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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