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BPCE ends hybrid paralysis with first tier one of 2010

Issue: Daily News - 10 March 2010
BPCE intends to price the first hybrid tier one of 2010 later on Wednesday via lead managers Barclays Capital, Credit Suisse and Natixis. The deal will be an old-style hybrid tier one in that it will have a 200bp step-up after year 10 if the transaction is not called. The deal will also have a call after five years and the coupon resets versus one year Euribor every year. ..




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