BPCE draws granular covered bond book
BPCE took advantage of the improvement in credit sentiment to issue a €1bn five year covered bond on Tuesday. The deal attracted a granular order book and was priced close to where it would have been expected to come in light of recent Canadian deals — 20bp above theoretical fair value.
BPCE opened order books on Tuesday for a five year French residential mortgage covered bond at 40bp over mid-swaps through joint leads Banca IMI, BBVA, Dekabank, Helaba, HSBC, ING, Natixis and UniCredit.After two hours demand stood at €1.1bn and after three ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com