Société Générale ensures smart execution by limiting deal size

By Bill Thornhill
16 Apr 2014

Société Générale returned to the covered bond market on Tuesday after a four month absence to issue the sixth French covered bond deal of the year and the third from France with a 10 year maturity. By limiting the deal size, leads were able to price flat to its curve, and with barely any premium to the French government.

Though another core covered bond deal had been suggested for issuance this week, it was by no means certain that another issuer would follow Berlin Hyp’s deal on Monday, given the short week.

But in the context of a potential escalation of conflict in the Crimea, the issuer ...

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