BPCE pounds sterling market with the largest tier two from a French bank

BPCE 230x115
By Graham Bippart
10 Apr 2014

BPCE took advantage of improving conditions and a light pipeline mid-week to feed the undersupplied sterling market, printing the largest ever deal in that market from a French bank.

The bank jumped into the pipeline on Wednesday, joining La Banque Postale, which was on a roadshow for a planned euro tier two deal. BPCE’s lead managers HSBC, Lloyds, Natixis and Royal Bank of Scotland announced initial price thoughts of UK Gilts plus 225bp area on Thursday, tightening ...

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