Handelsbanken flirts with sub-zero yield

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By Frank Jackman
25 Nov 2020

Svenska Handelsbanken sailed very close negative yield territory when it printed a €500m seven year green senior non-preferred deal on Wednesday.

Bank of AmericaSvenska Handelsbanken and UBS began the pricing process with initial thoughts in the 65bp area over mid-swaps.

The spread was tightened to a guidance range of 40bp-42bp, which — given that seven year euro mid-swaps were at minus 40.3bp at Wednesday lunchtime — implied a reoffer yield of only ...

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