SR issues largest covered inside curve

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By Bill Thornhill
03 Mar 2021

SR Boligkreditt issued its largest and longest covered bond on Wednesday, at the tightest spread it has achieved in more than three years, slightly inside fair value.

The €1bn 10 year deal was priced at 5bp over mid-swaps, from 9bp initially, with reoffer demand of €1.5bn, down from a peak of €1.7bn.

The deal was joint lead managed by Citi, Commerzbank, Danske Bank, Nordea and NordLB, who had been mandated on Tuesday.

A €1bn ...

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