Iceland exceeds expectations with new euro deal

By Frank Jackman
28 May 2020

There was bumper demand for Iceland’s euro deal on Wednesday that saw nearly 200 investors pour into a deal that exceeded expectations to tighten by 30bp.

The sovereign sold a €500m 0.625% June 2026 bond on Wednesday. Joint leads Citi, JP Morgan and Morgan Stanley opened the book with initial pricing thoughts of mid-swaps plus 120bp, which was later tightened to 105bp, before being fixed at 90bp over mid-swaps. The note ...

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