US IG BONDS: CoFF readies second US dollar covered bond
Compagnie de Financement Foncier (CoFF) launched its second US-dollar covered bond issue this afternoon. The US$1.5bn two-year fixed-rate tranche is out at mid-swaps plus 75bp, while the US$300m two-year floater is out at Libor plus 75bp. Both tranches are at the mid point of guidance. Deutsche Bank, JP Morgan and Morgan Stanley are the joint books on the French covered bonds.
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