SG, 3CIF keep French covered market firing

28 Jan 2011

French covered bond issuance maintained momentum this week with two deals surfacing. Both were successful — but had to pay up for the privilege.

Société Générale SCF priced a 10 year bond that was conspicuous for its degree of oversubscription and speed of bookbuild, while CIF Euromortgage priced a Eu1bn five year deal. Both were notable for their generous new issue premiums, a necessary prerequisite given the scale of issuance expected from ...

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