Soc Gen pulls in €1.75bn of funding with popular two year FRN

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By Tyler Davies
29 Aug 2019

Investors threw themselves behind a short-dated floating rate note from Société Générale on Thursday, shrugging off the bleak outlook for European interest rates. The strength of demand allowed the French bank to raise €1.75bn.

Société Généralewas the sole bookrunner for the two year senior floating rate note, which was a rare sight in a market that has been dominated by fixed rate products in recent years.

Investors were facing a negative yield at the initial price thoughts of 30bp over ...

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