CRH makes strong covered bond return after long break

By Bill Thornhill
01 Oct 2019

Caisse de Refinancement de l'Habitat (CRH) returned to the covered bond market after a six year absence with a transaction that resonated well with the market, according to the bank’s chief executive, Marc Nocart.

After completing a roadshow last week CRH returned to the market on Tuesday with a 10 year benchmark rated Aaa/—/AAA. Crédit Agricole, HSBC, LBBW, Natixis and Société Générale set initial guidance at 10bp over mid-swaps, attracting an immediate and strong response.

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