BPCE calls into Samurai market with SNP deal

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By Frank Jackman
03 Dec 2020

BPCE incorporated a call option into one of its Samurai deals for the first time on Thursday, when it raised about $430m equivalent of non-preferred senior paper, including one social leg.

“This is the first time BPCE has issued a callable in the yen market,” said a banker at one of the leads.

“The pricing of swaps is getting very tight, so every bit of yield you provide to investors is clearly welcomed. Issuing a callable versus a bullet ...

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