Sparebank 1 finds solid demand for sterling five year covered foray
SpareBank 1 Boligkreditt unearthed solid demand for its first covered bond in sterling, managing to price at the tight end of guidance with a comfortably oversubscribed book, despite issuing in the more challenging five year tenor.
After conducting a roadshow last week, Sparebank 1 Boligkreditt opened order books for a five year floating rate sterling five year with initial price thoughts of 30bp area over three month Libor.
Joint lead managers Credit Suisse, HSBC and NatWest Markets attracted demand of £850m by mid-morning UK
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