Big bank syndicates: has EIB unearthed the secret of jumbo issuance?

March 11, 2009 12:00 am

Are big syndicates the way to go when looking for size? The success of EIB suggests it is as it allowed the supranational to issue its first Eu5bn Earn since October 2007. The fact that it paid a clearing price obviously helped. Led by Calyon, Deutsche, HSBC and JP Morgan with the help of a co-lead group of 21, the deal was sold to over 300 investors. But there was plenty of money to go round since at the same time, Eu5.25bn of deals for ICO, Kingdom of Denmark and NRW.Bank were easily absorbed.

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