Danske underperforms in sidelined senior market
As widening in CDS filtered through to the secondary cash market on Wednesday, Danske Bank’s €1bn two year floater, which was priced on Tuesday, was bid up to 7bp wider than reoffer. Market participants said that this showed senior unsecured was being increasingly sidelined as the market awaited the results of Greece’s PSI agreement and US payrolls data on Friday.
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