LONDON, Dec 13 (IFR) - Credit Agricole has set guidance on its 10-year euro senior non-preferred bond at mid-swaps plus 120bp area, according to a lead manager.
The new issue will price within a 5bp range of this level.
Orders for the first issuance of this new type of senior bond have topped 3.75bn, with books set to close at short notice. The deal, which is expected to be rated Baa2/BBB+/A, will price later on Tuesday.
Credit Agricole is sole bookrunner. Commerzbank, Goldman Sachs, HSBC, JP Morgan and Natixis are joint lead managers. (Reporting by Robert Smith; editing by Alex Chambers)