Belgium gets €5bn with 3bp NIP

By Lewis McLellan
18 Feb 2020

Belgium was able to print a large 20 year benchmark bond on Tuesday, pulling in a book of €27bn. But despite the size of the demand, investors were reluctant to follow the price more than 1bp from initial guidance.

Belgium printed €5bn of 2040 paper through Citi, JP Morgan, Natixis, Nomura and Société Générale.

The leads opened books at 12bp area over mid-swaps. With orders of over €21bn, including €1.5bn from lead manager accounts, the spread was set at 11bp. A banker ...

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