Portugal and BNG land 15 year paper

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By Lewis McLellan
01 Jul 2020

The 15 year tenor is the flavour of the week in the SSA market. Three issuers have mandated for deals at the tenor so far, following on from NRW.Bank’s successful trip to the maturity on Tuesday.

Portugal raised €4bn with an October 2035 Reg S benchmark. Caixa Bank, Crédit Agricole, Deutsche Bank, Goldman Sachs, JP Morgan and Nomura ran the books for the deal, setting guidance at 92bp area over mid-swaps.

The order book swiftly exceeded €32bn, including €2.35bn ...

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