Compagnie de Financement Foncier priced the largest ever obligation foncière issue this Wednesday 10th October, a €2.5bn 10-year jumbo that successfully reopened the long end of the covered bond market maintaining thus its leadership on this market.
The order book reached €4.8bn with high quality accounts, reflecting investor interest for the Compagnie de Financement Foncier’s signature. This €2.5bn benchmark – the largest ever issued – was warmly welcomed by the market.
Central banks represented 10% of the total of the orders, when fund managers were 37%, Insurance companies 5%, banks 44% pensions funds 3% and others 1%. The demand came in majority from Germany for 20%, from France 18%, UK 17%, Benelux 16%, the Nordic region 14%, Asia 1%, Italy 4%, Switzerland 2% and others 5%.