Svenska sails close to covereds with tight sterling senior

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By Tyler Davies
25 Apr 2019

Svenska Handelsbanken was well received for a new senior unsecured transaction in the sterling market on Thursday, despite having pushed the spread towards a level that some investors might be able to pick up from a covered bond.

The Swedish issuer hired Credit Suisse, Deutsche Bank and RBC Capital Markets to arrange the sale of a short five year transaction and began the pricing in the 90bp area over Gilts.

Demand built steadily for the deal during the course of Thursday morning, peaking ...

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