French Banks, Insurers Sell Bonds After Macron’s New Cabinet (1)

French banks and insurers tapped the European market for bonds on Monday, with investor demand holding up for most offerings despite the country’s ongoing political crisis.

BPCE SFH sold a €1 billion ($1.2 billion) covered bond, which saw more than €3.1 billion in orders, according to people familiar with the matter. Insurance firm La Mondiale SAM raised €500 million of Tier 2 debt, with a final book also more than triple the deal size at above €1.69 billion.

AXA SA’s offerings were more mixed, a sign of price sensitivity emerging for the riskiest notes. Its €750 million of Tier 2 ...