FRN bonanza sweeps MTN market

By Frank Jackman
04 Oct 2019

Corporate, FIG and SSA issuers placed floating rate notes this week, pegged to Euribor, Sonia and Libor. With so many issuers coming to market, bankers are interested to see which other borrowers 'take advantage of the liquidity'.

Hitachi Capital sold a €200m June 2021 floating rate note on Thursday. The bond pays a coupon of three month Euribor plus 100bp. MUFG priced the trade at par.

“This was a club private placement,” said one MTN banker. “It’s the first MTN from Hitachi in some time and is ...

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