Renten and IADB tap dollars in Fed fixated market

Federal Reserve
By Mike Turner
30 Jul 2019

Rentenbank and Inter-American Development Bank hit the market for small taps of existing dollar debt on Tuesday, though some investors’ attentions are focused on this week’s US Federal Reserve meeting.

Rentenbank saw enough demand for a tap of its 2.375% January 2024s that it was able to increase the tap size from $300m to $500m at launch. The tap brings the existing deal up to $1.2bn.

The spread was kept in line with guidance at 9bp over mid-swaps. 

“The spread’s ...

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