Crédit Mutuel grabs €1.25bn as covered bond supply fears mount

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Crédit Mutuel grabs €1.25bn as covered bond supply fears mount

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July 18, 2014 - Derbyshire, England, UK - Dry Reservoir During Drought; Derbyshire, England (Credit Image: © John Doornkamp/Design Pics via ZUMA Wire) | John Doornkamp/Zuma Press/PA Images

Credit Mutuel Home Loan SFH (CM-CIC) completed a busy week in the euro covered bond market with a €1.25bn 10 year offering on Thursday. The deal emerged amid growing concern that euro covered bond supply will fall, as borrowers like SCBC, Danske Bank and Nordea turn to local currency markets, while others see better alternative funding opportunities, or simply bide their time.

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