Créd Ag defies choppy senior to land magic 3% on 12 year

By Tom Porter
31 Jan 2014

Crédit Agricole will go down as the only bank bold enough to print this week, as senior unsecured issuance was hampered by fears of an emerging market crisis. But its long benchmark showed just why others were wary, as it widened after pricing.

The French bank’s €1bn 12 year trade was praised as a bold move by many observers when it emerged on Wednesday morning, in a downbeat week for global risk assets as investors worried about emerging economies’ ability to protect their currencies against QE tapering by the US central ...

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