Sub-benchmark trades find favour in red hot FIG market

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By Tyler Davies
04 Apr 2019

Stellar market conditions have been helping smaller financial institutions find room to access funding, with Iceland’s Islandsbanki joining Aareal Bank and NIBC Bank in selling senior bonds with sizes of below €500m this week.

Islandsbanki opened books on a new €300m three year deal through Bank of AmericaCitiDeutsche Bankand Morgan Stanleyon Thursday morning.

They started the pricing in the 155bp area over mid-swaps, attracting orders of more than €500m by mid-morning.

Demand grew to as high as €1.2bn by about ...

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