FROB builds for Thursday debut
A debut transaction for Spain’s Fund for Orderly Bank Restructuring (FROB) is being marketed to a select group of investors met on the roadshow with a price whisper of mid-swaps plus 30bp area. However, with interest surpassing the Eu3bn mark at 11am GMT, official guidance is expected to be tighter when the deal is launched tomorrow morning. Read EuroWeek on Friday to see if FROB can emulate SFEF’s success in international markets.
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