LONDON, Dec 13 (IFR) - Credit Agricole has set the final
spread on its 10-year euro senior non-preferred bond at
mid-swaps plus 115bp, the tight end of revised guidance,
according to a lead manager.
Orders for the first issuance of this new type of senior
bond have topped 5bn. The deal, which is expected to be rated
Baa2/BBB+/A, will price later on Tuesday.
The French lender started marketing the 10-year euro
benchmark at mid-swaps plus 125-130bp. It was revised to
mid-swaps plus 120bp area, to be priced within a 5bp range of
this level when orders reached over 3.75bn.
Credit Agricole is sole bookrunner. Commerzbank, Goldman
Sachs, HSBC, JP Morgan and Natixis are joint lead managers.
(Reporting by Helene Durand, editing by Robert Smith)