BNG brings dollar threes as swap spreads rise
Bank Nederlandse Gemeenten has opened dollar proceedings for the week, mandating for a three year trade as swap spreads in the tenor hit their highest level in months. Other issuance in the currency could come from European Investment Bank, which has been rumoured to be considering a deal for a few weeks.
BNG early on Monday hired Bank of America Merrill Lynch, Citi, RBC Capital Markets and Scotiabank to run a Reg S/144A benchmark, then in the early afternoon released initial price thoughts of 8bp area over mid-swaps.
When the deal is priced on Tuesday, those levels
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.