Talanx breaks senior silence with 10 year
German insurer Talanx was in the senior unsecured market for the first time on Wednesday, breaking a run of some eight sessions without a new euro benchmark issue as the market stabilised following a torrid start to the week.
Lead managers Deutsche Bank, JP Morgan and Royal Bank of Scotland opened books on Wednesday morning with initial price thoughts of 135bp over mid-swaps for the 10 year transaction.
The new issue premium offered by that level was hard to pin down, as the deal is the issuers debut
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