Reverse enquiry drives NAB deal as sterling FRN market opens
Residual demand from Westpac’s three year sterling floater last Thursday drove a similar deal for National Australia Bank on Tuesday. NAB opened books on its three year bond at 8.30am, with Nomura as joint bookrunner.
Westpac was capped at £600m so there was a lot of demand still there from people who didnt get any, said a banker at one of the leads. There was some reverse enquiry and now weve opened it up to the wider market. I think it will go
...
Already a subscriber? Login