Issuers flock to long ends in covered bonds
Issuers this week have steered clear of negative yielding covered bonds, choosing longer maturities for their securities. Crédit Agricole Italia went as far as 25 years, while on the other end was Santander UK marketing a seven year tenor.
The Italian subsidiary of French lender Crédit Agricole, formerly known as Cariparma, was marketing a dual-tranche covered bond, with maturities of eight years and 25 years.
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