CRH mandates but doubts grow over volumes

04 Jan 2013

Caisse de Refinancement de L’Habitat (CRH) has mandated leads for the first covered bond deal of 2013, a 12 year benchmark. But despite record covered bond redemptions this month which should theoretically be positive for supply, bankers are not getting too excited.

CRH has mandated Barclays, BNP Paribas, Crédit Agricole, Deutsche Bank, Natixis and Société Générale as joint leads for a euro denominated covered bond, which is expected to be launched on Friday, subject to market conditions.

The borrower was last seen in the market on February 27, 2012, when ...

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