Agencies unlikely to follow CDC’s Samurai
Caisse des Dépôts et Consignations sold its debut Samurai and the first in syndicated format from a western European issuer in more than two years this week. But despite super low pricing versus yen swaps — two tranches were priced through swaps, the first time for a syndicated Samurai in decades, according to the leads — a difficult basis swap means that few eurozone agencies are likely to follow.
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