L-Bank and Manitoba keep dollar wheels turning
L-Bank and the Province of Manitoba kept the dollar SSA market busy on Tuesday, launching deals totalling $2.5bn.
L-Bank priced its $1.5bn two year benchmark in line with guidance at mid-swaps plus 3bp.
This gives around a 3bp new issue premium, according to lead calculations on Monday.
Dollar issuers in recent weeks have frequently managed to get zero and negative new issue premiums.“They set the ...