These are the details of the selected bond:
- Issuer: Argenta Spaarbank
- Covered bond rating(s) at launch: AAA (S&P)
- Amount: EUR1,000m
- Maturity date: 3 February 2032
- Re-offer price: 99.439
- Coupon: 2.875%
- Swap spread: 55bp
- Government spread: 61.7bp
- Pricing date: 21 January 2025
- Settlement date: 3 February 2025
- Bookrunners: ABN Amro, Belfius, LBBW, Natixis
- Country: Belgium
- ISIN: BE6359485685
- Collateral type: Mortgage
- The CBR bond ID: 3040
- Green, social, sustainability description: unlabelled
Coverage of this deal:
Issuers achieve size and price as investor pile-on persists 21 January 2025
Crédit Mutuel and Argenta Spaarbank were just the latest issuers to hit the high end of size expectations without compromising on price today, after DNB yesterday sold the largest euro benchmark covered bond yet this year, while DZ Hyp is expected with further supply tomorrow.