Sterling deals help banks push out maturities
Banks have issued commercial paper in the longest average monthy tenor in April since October 2010, thanks in part to a series of large sterling deals this week. Medium term note dealers were also able to bring a rare issuer to the market using a sterling deal.
The large clips of sterling CP also helped the currency become the second largest by volume during the week across all sectors, according to Dealogic.
Barclays sold the largest sterling clip of the week, £1.2bn, with a tenor of 122 days on Wednesday. It was the largest ever
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