World Bank takes size as Hamburg lands safely after stumbling start

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By Burhan Khadbai
10 Sep 2020

Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.

Leads DZ BankJP Morgan and Natixis opened the books on World Bank’s new September 2035 euro benchmark sustainable development bond on Thursday morning with guidance of mid-swaps plus 11bp area.

As the books reached more than €1.5bn, the spread was fixed at plus 10bp. The size was later set at ...

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