Banks print floater flurry

22 Mar 2013

Banks sold short dated floating rate notes in large volumes during the week as investors looked to protect themselves against a low yield environment. Other issuers took advantage of volatility in cross-currency basis swaps to print outside their home currency.

The hunger for short dated floaters could continue into next week, said dealers. "Rates on fixed deals and long dated swaps are really low, so short end floaters will keep attracting investors," said an EMTN dealer.

Crédit Agricole placed the largest floater of the week, printing a €250m deal ...

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