Cash rich investors pile into EIB CP
The European Investment Bank capped a spurt of blockbuster commercial paper issuance from European supranational and agency issuers this week with a $1bn clip of one year paper on Friday. Issuers have been able to get large clips away despite posting very low yields in euros — such is the level of investor demand for top-rated names — although a favourable euro/dollar basis swap sweetened offerings in dollars.
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