EDC grabs £600m to extend Sonia curve

canada UK fotolia 230x150
By Burhan Khadbai
17 May 2019

Export Development Canada sold its second Sonia-linked floating rate note on Friday, which extends the issuer’s curve linked to the reference rate to 2024.

Leads HSBC, RBC Capital Markets and TD Securities priced a £600m May 2024 Reg S floater rate note for EDC with a spread of 31bp over Sonia. The final books closed at over £600m.

“Landing at plus 31bp is pretty impressive,” said an SSA DCM ...

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