Issuer: Natexis Banque
Amount: $500 million
Launched: October 16
Lead manager: Tokyo-Mitsubishi International, Dresdner Kleinwort Benson and Merrill Lynch
One clear lesson emerges from the $500 million debut Eurobond for Natexis Banque: the name of the borrower still matters a lot to Euromarket investors.
On fundamentals alone, the deal should have been a blow-out. It was guaranteed by the Republic of France, which gave it triple A ratings and meant it was investors’ first chance since 1995 to pick up French guaranteed debt in dollars.
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