France breaks book record as SSA investors seek duration

By Burhan Khadbai
27 May 2020

France received its biggest ever order book as it came to the market for a 20 year syndication on Tuesday. SSA bankers say that investors are looking for duration after previously sticking to defensive maturities as the Covid-19 crisis eases.

Following the mandate announcement on Monday, leads Barclays, BNP Paribas, Deutsche Bank, NatWest Markets and Société Générale opened the books for France’s new May 2040 euro benchmark on Wednesday morning with guidance of 9bp area over the June 2039 OAT and over ...

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