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.
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