Créd Ag jolts covered bonds with mega-sized deal

By Bill Thornhill
01 Apr 2020

Crédit Agricole jump-started the primary covered bond market on Wednesday with a deal that is hoped will re-establish something of a normal rhythm of issuance.

The €2bn December 2024 was priced in line with BPCE’s earlier five year at 40bp over mid-swaps with reoffer demand of €3.7bn. The deal “paves the way for a more constructive tone in the primary covered bond market like it’s been in the SSA market,” said a lead ...

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