Investors warmly welcomed the return of Luxembourg to the bond market on Wednesday, allowing the sovereign to bring the spread in by 4bp during pricing. But it still offered a decent concession at the final level, according to bankers away from the deal.
Following an investor call on Tuesday, leads BCEE, BGL BNP Paribas, Bil, Deutsche Bank and HSBC announced initial price thoughts on Wednesday morning of mid-swap minus 10bp area.
With over €3.5bn of indications of interest, guidance was set at minus 12bp area. With the book