BNPP offers small NIP on non-pref deal

BNP_Stock_575x375
By David Freitas
12 Feb 2020

BNP Paribas launched a non-preferred senior bond at 73bp over mid-swaps this week, which included a small new issue concession to give room for a bit of secondary market performance for investors.

BNP Paribas launched €1.25bn of non-preferred senior paper at 73bp over mid-swaps, backed by €2.4bn of demand.

The French lender was running the eight year non-call seven trade as sole bookrunner.

It had opened books with price thoughts of 90bp/95bp area over. Later, supported by demand in ...

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