Issuers target ‘stunning’ covered bond market with 10 year trades

Euros_Adobe_575x375
By Tyler Davies
28 Apr 2021

Crédit Mutuel Home Loan and Natixis Pfandbriefbank secured tight pricing for 10 year covered bonds on Wednesday, as borrowers made haste to access sublime issuance conditions in the euro market.

Crédit Mutuel opened books on its 10 year covered bond through Barclays, CIC, Danske Bank and Société Générale.

The banks began the pricing process with guidance of 3bp area over mid-swaps, which helped them to bring in €1.5bn of orders by 10am in London.

Once demand had reached ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial