Jefferies lands 'on the screws' with first euro deal since 2014

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By David Freitas
12 Jul 2019

The financial institutions bond market is showing no signs of fatigue in Europe, with US financial services company Jefferies Group preferring euros over dollars for the first time since 2014 on Friday. There was some debate about fair value for its €500m deal, given the lack of outstanding comparables.

Jefferies was marketing a five year senior unsecured bond in euros and chose Jefferies, HSBC and Natixis to act as bookrunners.

They started out with price thoughts of 150bp area over mid-swaps for the deal, which was being sold out of Jefferies' holding company.

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