L-Bank opts for threes in Sofr Reg S first as JFM joins in dollars

By Burhan Khadbai
04 Mar 2019

L-Bank is set to bring the first ever Reg S only Sofr-linked bond on Tuesday. The German agency will be joined in the dollar SSA market by Japan Finance Organization for Municipalities, which has picked banks for its first benchmark of the calendar year.

Leads BMO Capital Markets, Deutsche Bank, JP Morgan and RBC Capital Markets sent out initial price thoughts of Sofr plus 35bp area for L-Bank’s $500m no-grow March 2022 FRN, which is expected to be priced on Tuesday.

L-Bank mandated the banks to “conduct ...

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