NIB shows five year dollars still a slam dunk
The Nordic Investment Bank’s $1bn no-grow five year passed easily through the market on Tuesday. Syndicate bankers away from the trade said the market is so receptive that any top tier dollar trade at that maturity is going to succeed.
“A blind man could price a new five year issue for a triple-A name at the moment,” said one syndicate banker. “Limited supply, good demand. The market is shockingly boring.”
A second syndicate banker agreed: “Was there ever any doubt this was going to be easy? Not really.”While this ...