Luminor targets short end in storming return to euros

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By Tyler Davies
25 Nov 2020

Luminor Bank was more than 3-1/2 times subscribed on its return to the euro market on Wednesday, allowing it to demonstrate a year-on-year improvement in its senior funding costs.

The Estonian bank, which operates across the Baltic region, opened order books for a €300m four year non-call three senior bond after a day of calls with investors. 

Bookrunners JP Morgan, LBBW, Luminor Markets and Nordea started the pricing in the 160bp area over mid-swaps, which an ...

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