Fives in favour as yields rise
A solid market and rising yields have prompted two more FIG issuers to go out with five year senior unsecured deals on Wednesday, with HSBC and KBC following Barclays’ similarly structured deal from Tuesday.
A recent rise in yields has made the five year point more attractive for investors, and issuers are taking advantage of the demand while it is there.
Five year yields have risen 20bp since the beginning of February, and almost 100bp since 2010, according to a FIG syndicate
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