Rabo secures solid result in hectic covered mart

Busy market
By Bill Thornhill
13 Jun 2019

Rabobank attracted good demand for a dual €2bn eight year and 20 year covered bond offering on Thursday, even though the deal was issued at the tail-end of a busy week and competed for investors’ attention in euros with Coventry Building Society and Všeobecná úverová banka (VUB).

After mandating leads on Wednesday, on Thursday Rabobank opened order books for a two-part transaction of an eight and a 20 year covered bond, with respective price guidances of 5bp area over mid-swaps and in the 11bp area.

Lead managers were Barclays, Deutsche Bank, Rabobank

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