BNG cuts lonely figure in dollar market
Bank Nederlandse Gemeenten is braving the dollar bond market during the Federal Open Market Committee on Wednesday, as it takes indications of interest for a $250m tap of its March 2022 floater.
The borrower is out with initial price thoughts of Libor plus 5bp area, 2bp inside the coupon the notes pay. Citigroup and Scotiabank are running the trade, which will be launched on Thursday.
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