Rabobank rallies US FIG issuers while Reynolds sells $3bn
US issuance was subdued this week compared with the record levels of recent months as prospective borrowers entered blackout periods ahead of the third quarter earnings season, kicked off by Alcoa on Thursday.
While borrowers were few and far between, investors still appeared hungry for deals, a point illustrated on Wednesday when Rabobank Nederland, rated Aaa/AAA, issued a $1.5bn five year deal. The note followed reverse enquiries in the high 90s over Treasuries.
Official guidance surfaced at the 98bp area, which
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