Bank investors warm to short end periphery bonds

By Tyler Davies
18 Jun 2020

Banco de Sabadell proved very popular with a short-dated euro senior deal this week, after issuing in an unusual three year non-call two maturity structure.

The Spanish lender sold a €500m of preferred senior bond at 210bp over mid-swaps on Wednesday.

Bookrunners Banco Sabadell, Deutsche Bank, Goldman Sachs and Natixis had been overwhelmed with demand in the euro market.

They started out with initial price thoughts of 250bp area over ...

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