‘No upside in waiting’ for covered funding
Crédit Agricole SFH seized an opportunity to issue its fifth covered bond benchmark of the year on Monday and, by pricing flat to its curve, it showed there was little reason to wait for better execution conditions this year.
Having already issued a three-part deal in January and a €1.5bn 10 year in April, Crédit Agricole returned to the covered bond market on Monday to issue its fifth covered bond in six months.
With covered bond spreads still trading tight and speculation of a potential tapering
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