Swedbank’s fourth benchmark helped by improved credit story and careful timing
Swedbank Mortgage priced its fourth euro benchmark covered bond of the year on Tuesday, a Eu1bn long three year transaction. A syndicate official at one of the leads said the deal took advantage of an issuance window after the issuer reported strong third quarter results last week.
Leads Credit Suisse, HSBC, Société Générale and Swedbank Markets opened order books for the January 2014 issue on Tuesday morning with guidance set at 27bp over mid-swaps area, having received indications of interest of around Eu900m.
The deal was whispered at the mid-20s over mid-swaps on Monday, according to
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