Repo-eligible duo land Swissie despite tight price
Raiffeisen Landesbank Oberösterreich and ASB Bank, the New Zealand subsidiary of Commonwealth Bank of Australia, came to market on Tuesday with small, tightly priced issues. Despite the deals targeting broadly the same investor bases both managed to hit their minimum targets — with the Raiffeisen deal growing by Sfr25m ($26.7m).
Both deals were targeted at investors looking for high quality repo eligible assets. While the size of the books may have left something to be desired, bookrunners on both deals were pleased with the tightness of the pricing.
Swiss investors have been looking primarily for yield over the
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