Sub-benchmarks shine in IG market
It is often suggested that issuers have to pay up for issuing sub-benchmark sized deals. However, this week two corporate issuers printed successful €300m transactions with little discernible premium compared to benchmark transactions.
On Monday Swedish property company Hemsö Fastighets returned to the euro market for the first time since its debut €500m 10 year deal last September. That was priced at mid-swaps plus 77bp and was quoted at plus 63bp before the new deal was announced.Lead managers Barclays, Danske ...
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