BFCM

Bank issuance ranges from strategic tier one capital to insurance subsidiary funding externalisation and big senior bond offerings

◆ French bank secures 'surprising' demand... ◆... giving the option to go big ahead of national budget ◆ Concessions debated, but higher premium and spreads lure buyers

Looming political upheaval is putting pressure on French banks to pay up to pre-fund but recent deals show what is possible and at what price

◆ Deal starts with 'intentionally' lower new issue concession than peers ◆ Slower book building may influence this week's tier two issuance ◆ Pre-funding ahead of French elections results in desired €750m size

Foreign bank quartet goes big in senior and capital issuance ahead of US bank earnings

◆ French bank returns after January amid scarcity for senior debt ◆ Investors like what they see as there is no book attrition ◆ Seven year tenor lures broader appetite

◆ Second French FIG sterling deal of the week spotted pricing inside euros ◆ Fourth currency of the year for BFCM ◆ Crédit Agricole marketing Samurai after printing in multiple other markets

◆ Senior French bank funding restarts in second issuance week of the year ◆ Unusual delay may have helped issuer push to a tight price ◆ Bond sold at fair value

◆ BFCM prints joint-largest deal of latest burst of issuance ◆ French bank streak jumps to €4.5bn ◆ BFCM pays some premium for 'heavier curve'

◆ Its first sub-€1bn tier two in four years ◆ First French euro bank capital sale since prime minister's resignation ◆ Mixed views on new issue concession

◆ Political instability pushes French spreads wider ◆ 'Investors see value' in heightened spreads ◆ BFCM's execution could guide others

CIBC raises deeply subordinated debt capital in dollars as diverse set of foreign lenders print senior bonds