Crédit Agricole offers negative yield on Eurazeo exchangeable

By Nina Flitman
29 Nov 2013

Crédit Agricole sold a €293m bond exchangeable into French investment company Eurazeo last Thursday (November 21) in what was the first European deal since the start of the financial crisis to have been offered with a negative yield at the tightest end of the indicative price range.

The 2016 zero coupon exchangeable, which was launched alongside a block sale of 3.2m Eurazeo shares (4.68% of the company) by the French bank last Thursday, was offered with a gross yield to maturity of between -0.98% and 0% (an issue price of 100-103). The deal was priced ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Oops, something went wrong

We're sorry but at the moment we can't load this data