Run of low beta senior hits snag as ASB and SpareB face difficulty

By Tyler Davies
02 Mar 2017

Fantastic funding conditions have recently allowed low beta borrowers to raise senior debt very cheaply, but a mid-week tightening of swap spreads caused problems for ASB Finance and SpareBank 1 SMN threatened to end the run of supply.

In the past couple of weeks, a wide Bund/swap spread had caused senior issues to tighten on a mid-swaps basis. Some low beta issuers therefore took advantage of their tightening secondary ...

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