NRW’s agencies in floater party
Investors had no shortage of floating rate paper from North Rhine Westphalia to buy on Thursday, as not one, but two, Dusseldorf based agencies launched floating rate deals with similar maturities. German bank treasuries drove demand for the Erste Abwicklungsanstalt (EAA) trade as they looked to put LTRO cash to work, while a large reverse enquiry from a non-German investor drove NRW.Bank’s deal.
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