Hot demand for short and long in euros

Euro fire FA 230
By Lewis McLellan
13 Feb 2020

Borrowers hit screens in euros from three to 50 years this week, all enjoying heavily subscribed books and pricing with skinny new issue premiums thanks to investors’ confidence in consistent support from the European Central Bank.

The long end proved particularly fertile, with Italy raising €9bn with a January 2036 deal. The sovereign wowed onlookers with a new Italian order book record and a 4bp move from initial price thoughts.

Leads Goldman SachsMorgan StanleyNomuraSociété Générale and UniCredit offered initial price thoughts of 9bp ...

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