SBAB back in yen with triple-tranche benchmark

18 May 2011

The Swedish National Housing Financing Corporation reestablished itself in the yen market this week, printing a triple tranche trade that it hopes will allow it to build out a curve and diversify products in the country, treasurer Per Tunestam told EuroWeek.

SBAB raised ¥75bn ($915m) across five year fixed and floating rate tranches and a three year fixed rate tranche. The size was at the upper end of the single-A rated borrower’s aspirations. Citi, Mizuho and Sumitomo Mitsui Financial Group led the deal.

“We hope that this transaction ...

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