KommuneKredit underwhelms as it tests ‘uncharted territories’

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By Burhan Khadbai
20 Aug 2019

KommuneKredit failed to set the market alight with the first euro syndicated public sector bond since mid-July, excluding deals from German Laender. The Danish agency only managed to sell €500m for the 11 year benchmark and was unable to tighten the spread during pricing.

Following initial price thoughts of mid-swaps plus 4bp area on Monday, leads Citi, DZ Bank, Goldman Sachs and Natixis opened the books on Tuesday morning with the spread unchanged.

The spread was fixed at the same level with the size of the bond set ...

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