Renten grabs dollar fives in US election week as basis moves in favour

fed fotolia 230x150
By Craig McGlashan
08 Nov 2018

After a year during which euro issuance from SSAs has far outstripped that in dollars, thanks to the vagaries of the euro/dollar basis swap, a German agency was able to nip in to a funding week shortened by US elections and central bank meetings to score a strong result with its sole dollar benchmark of the year.

Rentenbank priced a $1.25bn five year global at 5bp over mid-swaps from a book of over $1.75bn on Tuesday. Leads HSBCRBC Capital MarketsSociété Générale and TD Securities had opened up on Tuesday morning with guidance of 6bp area, after Monday’s price thoughts — also of 6bp area ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.