Commerzbank and Crédit Agricole tier twos fly

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Commerzbank and Crédit Agricole tier twos fly

Two colourful kites flying high on sunny day, Brenton Point State Park, Newport, Rhode Island, USA

◆ Investors find tier two FIG debt appealing ◆ Simultaneous execution helped by supply and demand mismatch, ECB rate cut expectations ◆ Both deals land flat to FV with multiple times coverage ratios

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