Reverse enquiry for Crédit Agricole as FIG gets festive

10 Dec 2012

Crédit Agricole has received reverse enquiry from investors following last Friday’s €1.25bn long two year FRN, highlighting accounts’ interest in floating rate paper. However, the FIG pipeline is thinning as year-end approaches and bankers do not expect many more transactions to hit the market.

Crédit Agricole’s deal was the fifth in a string of floating rate deals from European issuers, most of them French. BNP Paribas, BPCE and Crédit Mutuel Arkea have all tapped that market in similar ...

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