Rabobank’s Eurodollar deal trades tighter but no sell-out
Rabobank issued a $500m long three year Eurodollar on Wednesday that tightened in secondary trading despite pricing flat to the borrower’s curve and the lead managers having been left with a small residual position.
Credit Suisse, Rabobank and TD Securities priced the December 2013 at 35bp over mid-swaps, equivalent to 116bp over January 2013 Treasuries. The bond was trading 2bp tighter in the secondary market on Thursday.
The deal was priced flat to the issuers secondary curve, with its February 2013 $1bn bonds,
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