Crédit Agricole

◆ Issuer tightened spread by 7bp on Tuesday ◆ First euro covered from ANZ NZ since 2023 ◆ Acting treasurer said €750m was the target

◆ BMO's floater came after Crédit Agricole’s last week ◆ Banker said floaters are becoming more popular ◆ Canadian bank's sixth covered this year

◆ Third German covered in two days ◆ Issuer's second covered of 2026 ◆ Small new issue premium offered, says banker

◆ Korean lender capped trade to focus on spread ◆ Shared market with four other deals ◆ Asian firms have been busy since market reopened

Covered market provides 'the deepest pocket of demand' among FIG asset classes

◆ Large demand for all tranches, including rare FRN ◆ Despite flat swap curve long end 'flies' ◆ Higher yields a boon for investors

◆ Higher spread, higher book than tighter priced SP deals ◆ Large French supply expected in the second half of year ◆ Small premium paid

Banker is moving to Greece as focus grows in connecting its capital markets and banking sector to international investors

Facility's maturity pushed out to 2031

◆ Growing market depth supports wider product and issuer offerings ◆ French bank's adds senior non-preferred layer to its Kangaroo funding mix ◆ Deal mostly sold locally

◆ Foreign and domestic banks find 'strong' liquidity in Australian dollar market ◆ TD achieves several bests for a Canadian senior Kangaroo ◆ Crédit Agricole eyes funding next with 6NC5 bail-in structure

Fifteen firms join syndicate as firm re-enters north America