La Banque Postale
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◆ La Banque Postale sells first euro benchmark of 2025 ◆ Mediobanca and DNB return ◆ Market 'to play catch-up' after scant supply in first five months -
◆ Level set at fair value, price not tightened ◆ French agency follows on in same maturity ◆ Books of under €1bn
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◆ No new issue premium paid ◆ Green bond helps build book ◆ Good demand for French agencies
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◆ Deal hits size and price targets ◆ Starting spread catches investors' attention ◆ Small pick up offered over OATs
