SocGen launches dual tranche in liquidity smash and grab - updated
Société Générale followed in the footsteps of Nordea on Monday, attracting interest with a dual tranche deal similar to the €2.25bn deal the Swedish lender sold on Friday. It was not the only borrower to tap the strong market — Svenska Handelsbanken and Danske Bank were both out with three year bonds.
A steep rally on Friday saw Nordea launch a dual trancher, pricing 1.25bn of long five year paper and a 1bn 10 year, at 100bp and 135bp over swaps respectively. The five year was 8bp tighter against Bunds on Monday morning, and the 10 year was 4bp tighter.
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.