La Mondiale bags tier two through fair value

By David Freitas
16 Jun 2020

La Mondiale took advantage of a sudden improvement in market conditions this week to strengthen its capital structure with the sale of a new tier two. The French insurer was able to launch its deal 5bp through fair value.

La Mondiale was set to print €500m of 11 year bullet tier two paper at a spread of 225bp over mid-swaps, backed by over €3.4bn of orders.

The insurance company chose HSBC, Morgan Stanley and Natixis to run the books and they kicked off the ...

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