Joint Bookrunner in the new bond issue of La Banque Postale

IMI Corporate & Investment Banking Division acted as Joint Bookrunner in the new 1.25 billion euro 8yr Social Covered bond issue of La Banque Postale (LBP). The transaction represents the first social bond for the issuer and the second deal issued using the ESG framework

On the back of the supportive feedbacks collected from investors, on January 23rd LBP released the Guidance at Ms+30 bps area. In less than two hours, investor orders peaked 1.6 billion euro and the solid primary demand allowed the issuer to price the deal at Ms+27 bps, with a 3% coupon.

The deal saw the participation of over 65 investors, with the 59% of final issued amount allocated to foreign ones.