BPCE’s ‘insane’ green debut covered proves 10s are back

By Bill Thornhill
19 May 2020

BPCE attracted more demand from more investors than any other French covered bond issued in at least eight years when it launched its first green covered bond on Tuesday. The outcome sent a strong signal to other borrowers seeking cost-effective, long term funding that central banks do not offer.

After conducting two global investor calls on Monday to explain its green methodology, BPCE opened order books for its inaugural green covered bond on Tuesday. The deal is to be issued under BPCE’s green framework and is secured on French residential properties rated in the top ...

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