Soc Gen pivots to pref senior, offers small premium

By David Freitas
17 Feb 2020

Société Générale was two times subscribed for a new €1.25bn preferred senior bond on Monday, showing that investors still have plenty of appetite for the lower-yielding asset class.

The French lender will likely have been tempted into the euro market by favourable issuance conditions at the beginning of the week.

Société Générale was acting a sole bookrunner for the issuer’s six year preferred senior trade, while Banca IMI and Helaba joined as lead managers ...

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