Croatia lengthens curve with zero NIP 12 year
Croatia lengthened its euro curve this week with a €1.275bn long 12 year bond, drawing in a book of more than €3bn for the deal.
Lead managers believe the note was printed flat to the outstanding extrapolated curve.“If you use the curve between the country’s 2025s and 2027s you can see there’s about 8bp of extra spread a year,” said a source close to the deal. “The 2027s were trading around 170bp, ...
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