Barclays leads flurry of sterling covered supply
The sterling covered bond market enjoyed a strong start to the year, with four issuers raising a collective £3.7bn. Barclays priced the first deal of the year, which also happened to be one of the longest and largest.
Barclays opened order books with initial guidance for the five year floater at 27bp area over three month Libor through joint leads Commerzbank, Lloyds, Santander, Société Générale, UniCredit and the issuer’s own syndicate.After two hours, and with £1.8bn of orders, the spread ...
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