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

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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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