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Rating: Aa1
Amount: Eu300m
Maturity: March 18, 2014
Issue/re-offer price: 100.00
Coupon: three month Euribor plus 4bp
Launched: Friday March 5
Joint books: Deutsche Bank, Dexia
Bookrunners' comments:
Deutsche ? The transaction was more than three times oversubscribed and the reasons for that are the quality of the name and its rarity.
CFB has the same rating as the Kingdom of Belgium, which is a nice achievement by the issuer. This is the first time it has come to the market so the deal offers interesting diversification for investors across Europe.
Some marketing was carried out even though we did not need to have a roadshow as the issuer is rated and Moody's had produced some research material. Also, there was updated marketing material from the borrower's EMTN programme signed in December 2003.
We had been discussing...