Lower Saxony kick-starts euro SSA market as EIB preps sterling reopener

By Burhan Khadbai
02 Jan 2020

The Federal State of Lower Saxony sold the first euro public sector benchmark of 2020 with a well received 10 year deal on Thursday. Meanwhile, the European Investment Bank is keeping to tradition of beginning its benchmark funding for the year in sterling.

Commerzbank, DekaBank, HSBC, Nord/LB and TD Securities were picked to lead Lower Saxony’s January 2030 intraday trade.

The price discovery process began with guidance of mid-swaps minus 4bp area, before the spread was set at minus 5bp with the books at over €1bn, including €130m ...

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