L-Bank pulls dollar deal due to lack of demand

Door_close_FIG_Adobe_230x150
By Burhan Khadbai
20 Mar 2020

L-Bank postponed its dollar transaction on Thursday after not receiving enough orders for the targeted deal size. The trade had been structured as an auction, with investors invited to place bids over their desired level versus mid-swaps. After taking indications of interest, no further updates followed.

An announcement sent by the leads at 4pm UK time said L-Bank had decided to “postpone” its two year dollar benchmark “due to orders of $800m for a deal size of $1bn”. It added that L-Bank “looks forward to re-engaging with investors in the near future”.

“Maybe the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial