CS and Sparebank go long to avoid negative yields
Credit Suisse and SpareBank 1 priced deals in senior format this week, choosing longer maturities to avoid entering negative yield territory. SpareBank 1’s €500m green bond attracted demand of €700m but leads were not able to tighten pricing to the tight end of their price guidance.
Leads started out with initial price thoughts of 70bp area over mid-swaps and were able to tighten to guidance of 60bp-65bp over.Before pricing, a banker away from the ...
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