LISBOA, Portugal, Jan. 17, 2014 (GLOBE NEWSWIRE) --
Highlights
On January 8th, Caixa Geral de Depósitos, the largest Portuguese bank by assets, launched a new and successful covered bond issue. The deal exceeded the highest expectations confirming the strong demand for CGD paper in international financial markets and a visible improvement in the perception of risk by investors.
The deal attracted 212 institutional investors mainly (>90%) from across borders. The issue enjoyed a widespread diversification, led by German and Austrian investors (yielding 26% of the total placement). Asset Managers took 63% of the placement, while Insurance and Pension Funds represented 8% of the total amount.
The overwhelming investor response allowed the order book to grow rapidly, more than 5 times the total offer amount, and a very tight pricing (MS+188 bps), through the existing secondary curve.
This issue affirms CGD's commitment towards its investor base as a quality issuer, building the yield curve for different maturities.
Terms
| Issuer | Caixa Geral de Depósitos SA |
| Ratings | Baa3/BBB/A by Moody's/Fitch/DBRS |
| Security | 5 Year Covered Bonds 2019 |
| Announcement | 08-Jan-14 |
| Settle | Jan-14 |
| Maturity Date | Jan-19 |
| Issue Size | € 750 MM |
| Coupon | 3% |
| Reoffer Yield | MS + 188bps |
| Bookrunners | Caixa BI /HSBC / CAL / COBA / JP Morgan |
https://www.cgd.pt/English/Investor-Relations/Pages/Investor-Relations.aspx
Media Contacts
INVESTOR RELATIONS OFFICE
+351 217953479
investor.relations@cgd.pt
Full Press Release (PDF) http://hugin.info/158905/R/1755537/592764.pdf
HUG#1755537