Four banks lap up demand for defensive deals

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By David Freitas
11 Jun 2019

Oberbank sold a senior bond in euros on Wednesday, following in the footsteps of NatWest Markets, Luminor Bank and Svenska Handelsbanken, which on Tuesday also issued senior deals. NatWest attracted the largest order book for its floating rate notes.

Following a June 3 roadshow, Oberbank started execution on Wednesday with initial price thoughts of 80bp-85bp over mid-swaps via bookrunners CommerzbankDZ BankErste Groupand Raiffeisen Bank.

The seven year bond drew demand of around €300m in less than two hours of bookbuilding.

Guidance was set at 75bp-80bp ...

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