Investor work pays dividends for My Money Bank

Money talks 230x150
By Bill Thornhill
09 Sep 2019

Specialist French lender My Money Bank SCF (MMB) returned to the covered bond market on Monday to issue its second deal, which attracted a more diverse and larger order book than its first. A positive yield helped, but so did the issuer’s investor relations effort, according to a lead manager.

Following a roadshow, MMB mandated leads and opened order books on Monday for a €500m no-grow 10 year Obligations Foncières, its second ever covered bond.

The deal was initially marketed at an eye-catching spread of 30bp over mid-swaps. With 10 year swaps yielding minus 17.5bp, the initial spread ...

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