Double digit spread no problem for Agos Ducato’s consumer ABS

credit agricole
By Tom Porter
18 Jun 2014

Agos Ducato has met with another strong response for an Italian ABS transaction this week, despite bankers expecting its comeback Sunrise 2014 deal to be priced inside an initial headline spread of 100bp on Wednesday.

Agos Ducato, a 61%-39% joint venture between Crédit Agricole and Banco Popolare, released initial price thoughts of 100bp area over three month Euribor for its €800m of 1.23 year ‘Class A’ bonds through lead managers Crédit Agricole and Royal Bank of Scotland on Monday. The lender is also ...

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