Banks take centre stage as dollars heat up before year end

Dollars_graph_US_Adobe_230x150
By David Rothnie
05 Dec 2019

Bank issuers led a flurry of dollar bond deals this week, as they dashed to wrap up funding before year end and ahead of the US Federal Reserve’s final meeting of 2019.

MUFG Union Bank was doing the rounds on Thursday with a $1bn three year transaction, comprising a fixed rate tranche and a floating rate trade referencing the secured overnight financing rate (Sofr).

MUFG launched the $700m fixed rate tranche at 50bp over US Treasuries and the ...

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