EBRD attracts big demand for Sonia ‘shift’ but no unanimous approval
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EBRD attracts big demand for Sonia ‘shift’ but no unanimous approval

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The European Bank for Reconstruction and Development took a huge order book for its Sonia-linked floating rate note on Wednesday, which introduced a new coupon calculation methodology for the sterling risk free rate. But market participants away from the deal said the demand did not reflect broad approval of the new format among investors.

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