Unédic sells 10 year with negative NIP, AfDB on screens

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By Burhan Khadbai
13 Mar 2019

Unédic priced through fair value for its first bond of the year on Wednesday, as the European Central Bank’s announcement of fresh liquidity supercharged an already red hot euro SSA market. African Development Bank will hope to find similar success in the 10 year part of the curve after mandating banks for its first benchmark of the year.

Unédic sold a €1.5bn March 2029 through with a spread of 16bp over the OAT curve, interpolated between the November 2028s and May 2029s. Barclays, BNP Paribas, Commerzbank, JP Morgan and Natixis were the bookrunners.

Following the mandate on Tuesday, books opened with ...

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