Deutsche mines seam of three year floater demand

Deutsche Bank has run the books on four separate three year FRNs since re-opening its Zurich syndicate desk in early August, suggesting it hit a rich seam of bank treasury demand. But the two most recent of those four deals have been quite small — Swedbank Mortgage issued the minimum size of Sfr150m, and Lloyds only got Sfr175m — implying that DB’s seam might be wearing out. Meanwhile, Credit Suisse got in on the action too, with a three year FRN for Bawag on Monday. Can bank treasury investors take much more supply? Read EuroWeek on Friday to find out.