Niche bank trio met with bumper demand

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By Frank Jackman, Tyler Davies
26 Nov 2020

Sub-benchmark deals are not so much of a novelty anymore: a trio of rare names filled their boots with diminutive deals this week, with each attracting bumper demand.

Although benchmark issuance was scarce this week, the performance of smaller deals suggests that investors are baying for more paper.

"The demand is there — just look at how well the sub-benchmark trades are doing,” said one syndicate banker away from the deals.

These smaller issuers are having ...

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