Ico and IBB shine in euro short end

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By Burhan Khadbai
23 Oct 2019

Instituto de Crédito Oficial (Ico) and Investitionsbank Berlin (IBB) found strong demand in the short end of the euro curve on Wednesday, which SSA bankers are calling the new sweet spot, despite the deeply negative yields.

Following investor calls on Tuesday, leads HSBC, JP Morgan, Santander and UniCredit began taking indications of interest on Wednesday morning for Ico’s €500m no-grow October 2022 social bond with initial price thoughts of 12bp area over the October 2022 Bono.

With over €1.7bn of ...

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