SEB gets tight covered pricing in tired mart
SEB issued a tightly priced €1bn seven year covered bond on Tuesday, but the slim scale of oversubscription reflected investors’ resistance in the fatigued market.
Excluding joint lead interest, the €1bn deal attracted demand of €1.15bn from 75 investors. It was priced at a final spread of 5bp through mid-swaps from initial price thoughts of swaps less 2bp and a refined guidance level of minus 4bp area.At the final spread, the bonds ...
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