BPCE calls into Samurai market with SNP deal

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 ...Already a subscriber? Login