Primary Bond Market: Natixis shines in the financial institutions issuer sector
Particularly buoyant throughout 2019, the bond market for financial institutions continued to be so in November, aided by the continuation of the ECB’s Asset Purchase Program.
In this buoyant context and in November alone, Natixis led a dozen landmark bond issues across all sectors, from the most secure to the most subordinated.
Natixis also led the first Additional Tier 1 benchmark bond (€750m) for Banque Postale. This issuance has allowed Natixis to demonstrate its capacity to innovate and Banque Postale to optimize its capital structure and to diversity its investor base.
Natixis was also joint bookrunner for the inaugural Subordinate Tier 2 Basel 3 bond for RCI bank (€850m).
On the covered bond market, several operations are worthy of mention: CRH (€1bn), DZ HYP (8y and 15y €500 dual tranche), Caixa Economica Montepio Geral (€500m), UniCredit Bank (€1bn), Natixis Pfanfbriefbank (€250m) et Bankia (€750m).
Natixis was also active in the Green bond market, where it acted as joint bookrunner for CAFFIL’s first green bond (€750m), as joint bookrunner for the Senior Preferred bond for BPCE (€500m) and as Global Coordinator, Green Structuring advisor & joint bookrunner in the inaugural Tier 2 green subordinate bond for CNP Assurances (€750m), the first insurance issuer to access the green subordinate sector.