Iceland prints biggest euro bond since 2014 as Joint Laender falls flat

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By Burhan Khadbai
28 Jan 2021

Iceland was awash with demand in the euro market on Thursday, allowing it to comfortably sell its biggest bond in euros since 2014. But it was a far different outcome for the Joint Laender, which failed to achieve full subscription.

Leads Barclays, Citi and Deutsche Bank began taking indications of interest for Iceland’s new April 2028 euro benchmark with initial price thoughts of mid-swaps plus 60bp area on Thursday morning.

As the indications of interest reached over €2bn, the books opened with guidance of plus ...

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