Crédit Agricole
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Strong appetite from international banks for first gigascale 24/7 solar plant
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Italian energy engineering company exercises option to borrow further €115m
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Eighteen year facility backed by EIFO comes as interest in energy infrastructure mounts
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New facility smaller than the original but 20% larger than the launch amount
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Financial institutions specialist heads to German bank
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◆ Asian issuer opts for £500m no-grow format ◆ Deal offers small new issue premium ◆ Deal takes cue from BMO and KHFC
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Despite a strong year for euro covered bond issuance more broadly, volumes from France are way down on last year
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◆ French lender fixed deal at half the order book's size ◆ Covered offered small new issue premium ◆ Banker said CRH's and UniCredit Austria's deals showed 'fatigue'
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◆ Bankers said the deal offered a few basis points of new issue premium ◆ Bank's last covered bond deal was in January 2025 ◆ Lead managers used a small set of comparables
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◆ German bank had the primary market to itself on Monday ◆ More covereds issued from Germany than any other country ◆ Banker said 7bp over offered small new issue premium
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◆ Aussie bank has primary to itself on Friday ◆ Deal ‘sufficiently different,’ say bankers ◆ Both tranches offer small premiums
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◆ First RT1 since January ◆ Huge order book with no attrition ◆ High-beta appetite increases further down the capital structure, lead says