World Bank joins Fannie Mae on the SOFR

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World Bank is following Fannie Mae’s trailblazing issue of Secured Overnight Financing Rate (SOFR) floating rate notes after mandating banks on Monday for what will be the second ever trade to reference the rate.

By Craig McGlashan
13 Aug 2018

Leads Citi and TD Securities sent out initial price thoughts of 23bp area over SOFR on Monday afternoon for the August 2020 global, which is due for pricing on Tuesday.

The tenor means that investors will have a small SOFR-linked curve, with Fannie Mae’s SOFR-linked ...

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