Oma deluged with demand as Caffil extends

Happy In Rain
By Bill Thornhill
18 Nov 2020

Oma Savings Bank attracted exceptionally strong demand for its sub-benchmark covered bond on Wednesday, thanks to the double digit spread pickup it paid compared to deals from compatriot Finnish national champions. Caffil, meanwhile, recently issued an ultra-long private placement and said it plans to print further out the curve.

After completing a roadshow on Tuesday, Oma opened order books for a €250m 0.01% November 2027 via joint leads Danske Bank, LBBW and Swedbank on Wednesday with initial guidance of 14bp area over mid swaps.

After one hour the order book stood at more than €700m and ...

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