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

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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