BNPP and RBS dive into ‘hot’ FRN mart

Balloon_floater_Fotolia_230x150
By Tyler Davies
01 Jun 2017

Strong demand for floating rate paper helped BNP Paribas take home a longer dated than usual non-preferred note this week, while Royal Bank of Scotland’s rare operating company FRN had a similarly warm welcome.

The volume of FRN issuance has risen dramatically in 2017 as investors look to interest rates rising in Europe.

Banks have priced more than 20 deals in the format already this year, raising a combined total of close to €25bn — according to GlobalCapital’s priced deals database. Financial ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.