RBS braves sterling amid last minute Brexit brouhaha

By Tyler Davies
21 Mar 2019

Royal Bank of Scotland brought a new holding company level transaction in front of sterling investors on Thursday, as market participants remain confused about the outcome of Brexit a week ahead of the UK’s scheduled date of departure from the EU.

RBS Group was marketing the eight year non-call seven senior bond through its own investment bank, NatWest Markets.

The issuer put out initial price thoughts in the 240bp over Gilts and welcomed investment from sterling accounts throughout the course of Thursday morning.

When demand had hit £1.1bn, RBS ...

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