RBS spies ‘pricing advantage’ in dollars, scores landmark green trade

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By David Freitas
20 May 2020

Royal Bank of Scotland Group took advantage of the strong appetite for senior debt in dollars this week, issuing $1.6bn of funding across two tranches. The deal, which included the first dollar issuance of green UK bank paper, offered no premium to investors.

Royal Bank of Scotland Group launched $1bn of eight year non-call seven senior debt at 255bp over US Treasuries. 

At the same time, it launched $600m of four year non-call three senior paper in green format at 215bp over US Treasuries.

The UK bank had commissioned Bank of ...

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