Insurers flock to Rabo’s 15 year tap

28 Jul 2010

Rabobank Nederland tapped its 2025 euro issue on Wednesday in an opportunistic move that took advantage of strongly positive market tone.

Lead managers BNP Paribas, Rabobank and USB priced the Eu750m deal in line with early price talk at 90bp over mid-swaps.

That offered investors a slim new issue premium to the 87bp-88bp over mid-swaps level where the bond had been trading ahead of the deal’s announcement, yet came ...

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