Sparebanken Sør draws strongest demand for sevens

By Bill Thornhill
19 Jan 2021

Sparebanken Sør Boligkreditt’s covered bond drew more demand than competing deals issued by Berlin Hyp and Royal Bank of Canada on Tuesday, thanks to its more generous spread, shorter duration and favourable liquidity treatment.

The €500m 0.01% January 2028 attracted demand of €1.6bn and was priced flat to fair value at 7bp over mid-swaps from guidance of swaps plus 11bp.

Joint leads were Commerzbank, Danske Bank, LBBW, SEB and UniCredit.   

The outcome was favourable ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial