SEB smashes pref senior, offers negative NIP

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By David Freitas
11 May 2020

SEB offered investors a negative new issue premium with its preferred senior deal on Monday. With conditions consistently improving for European issuers, this deal has shown that the market is ripe for issuance in the format.

SEBlaunched its €1bn three year preferred senior bond at a spread of 68bp over mid-swaps.

Joint lead managers BNP Paribas, Goldman Sachs, HSBC, SEB and UBS started the trade with price thoughts of 95bp area over mid-swaps.

Later they were able to drive ...

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