VTB smashes through dollar curve with Swiss franc deal

13 Jul 2010

VTB Bank issued a Sfr300m three year deal on Tuesday, which came 40bp-50bp inside its dollar curve on a swapped basis.

The deal reached a total of Sfr300m from the Sfr150m minimum, with a re-offer spread of 315.5bp to mid-swaps. VTB’s outstanding 2011 was trading at around 310bp over swaps. The 4% coupon was right in the middle of the 3.95%-4.05% guidance.

“This deal was really focused on price not ...

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