CM-CIC absorbs €1.5bn but manages to perform

By Bill Thornhill
31 Jan 2014

Core covered bond deals sized at €1.5bn have had mixed success so far this year. Tuesday’s five year from Crédit Mutuel CIC SFH was only moderately oversubscribed but was well placed, trading stably at end of the week.

CM-CIC mandated BNP Paribas, Citi, Danske Bank and Natixis for a five year benchmark on Tuesday.

This was the fourth French benchmark of the year but the first in this tenor. La Banque Postale and Caffil issued 10 year deals in the first week which weakened initially ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial