Crédit Agricole
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◆ 'Extremely strong' euro market ◆ Trump inauguration creates good window? ◆ Relative values drive book -
New head of debt management discusses first dollar deal of year
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◆ US bank funds in the single currency a day after hitting the US market ◆ 'Aaggressively' price tightening met by strong demand for duration ◆ CA Auto Bank sells FRN on Goldman's heels
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◆ No pick-up offered to French govvies ◆ Deal lands through fair value ◆ Investors still eager to pick up paper
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◆ KEB Hana readies first non-European euro covered since October ◆ BSH to tap Pfandbrief demand ◆ Crédit Agricole plots public sector deal
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◆ Issuer well funded already ◆ Tightens 3bp, no fair value consensus among banks ◆ Demand covers size over three times
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Warm reception for French banks in euros and other currencies shows FIG market is in positive health
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◆ Size was at upper end of recent range ◆ Book was over €30bn at one point ◆ Portuguese bonds still tight versus peers
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◆ Italian firm attracts €7bn peak book ◆ Deal lands up to 20bp through govvies ◆ However, high single digit premium still needed
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◆ First out of three Belgian euro syndications proved a hit ◆ Usual 2bp premium paid ◆ Italy to follow with potential €20bn deal
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◆ Italian covered supply returns after four month absence ◆ Crédit Agricole Italia set to reopen long end of the curve ◆ Deal expected to come inside BTPs
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◆ Whether issuer priced through euro curve debated ◆ French bank opting for sterling 'pretty smart tactically' ◆ Euro-sterling cross-currency basis lures other issuers
