Crédit Agricole

◆ Greek bank tightened spread by 25bp ◆ One of two green bonds sold on Tuesday ◆ Green label creates 'stickier' order book, says banker

◆ French issuer tightens spread by 6bp ◆ Order book closes at €2.5bn peak ◆ Only covered bond issued on Tuesday

No covered bonds have been issued in primary since Tuesday

Crédit Agricole CIB's head of covered bond and SSA research expects premiums to stay at current levels

There were no new covered bonds issued on Thursday after two on Wednesday and four on Tuesday

◆ Issuer attracted order book of €1bn ◆ Bid-to-cover ratio was consistent with recent precedents◆ Fair value not easy to establish

European and other regulators are working on reforms to make covered bond funding more efficient

◆ Bond the first EuGB covered ◆ Danish issuer tightens spread by 5bp ◆ Issue offers next to no concession

Issuers are waiting for the volatility caused by the escalation of the war in the Middle East to normalise, bankers have said

Executive is moving to more senior role

French bank retains overall top spot in euro market, Crédit Agricole leads in senior and JP Morgan in third-party capital sales

◆ Issuer's largest covered deal at its tightest spread ◆ Banker said Korean lender is ‘well-liked’ by investors ◆ Pricing seen at fair value despite 'scarce liquidity' in secondary curve