Créd Ag proves popular for AT1 amid Italian M&A rumours

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By Tyler Davies
07 Oct 2020

Crédit Agricole was set to launch a tightly priced new additional tier one (AT1) in the euro market on Wednesday, as investors had to consider whether the French bank was looking to expand its footprint in Italy.

The issuer hired its own investment bank as the sole bookrunner for the perpetual non-call 7.5 year deal, which had its size set at €750m from the outset. 

Commerzbank, Danske Bank, Intesa Sanpaolo, Santander and UBS joined as lead managers without books. 

Initial price thoughts arrived ...

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