SSA issuers pick year-end to innovate
The market is buoyant this week, following Greece’s €34bn bail-out package, a blow-out debut from a new issuer and the European Financial Stability Facility’s innovative completion of its 2012 funding requirement, only a week after it was forced to shelve a three year deal.
WI Bank, the development bank of the German state of Hessen, brought its debut public deal, a 500m no-grow 10 year bond. Books were closed after just 25 minutes on Wednesday at 2.2bn, before reconciliation of orders between the leads.
The combination of German public sector credit and initial
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