Greek 10 year garners big response

The Hellenic Republic has had an overwhelming response to its new 10 year benchmark in euros. With books over Eu10bn, the borrower is likely to achieve the tight end of the 260bp-270bp guidance when the transaction is priced later today. Rentenbank is now in the market with a five year euro benchmark at mid-swaps plus 55bp area with Barclays Capital, DZ Bank and LBBW. Meanwhile SFEF’s latest outing has raised Eu6bn of three year money at mid-swaps plus 15bp on the back of a Eu7.5bn book. Read Friday’s EuroWeek for the ins and outs of all this week’s issues.