Rabobank Nederland

  • 26 Oct 2006
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Rating: Aaa/AAA
Amount: £250m
Maturity: 27 October 2014
Issue/re-offer price: 99.546
Coupon: 5.125%
Spread at re-offer: 38bp over Gilts
Launch date: Friday 20 October
Payment date: 27 October
Joint books: Barclays Capital, Rabobank London, Royal Bank of Scotland

Bookrunner's comment:
Gilt yields have risen recently, provoking interest from investors in Europe and the UK, and allowing Rabobank to made another addition to its benchmark sterling programme.
This is a typical trade for the issuer: £250m is its minimum for this kind of curve-enhancing trade. The EIB and KfW have 2014 transactions trading at 28bp over Gilts — we always intended to offer a 10bp pick up over those comparable deals. The trade went to fund managers, UK real money accounts and some European central banks.
Given rising Gilt yields, we were keen to get this away before the half term holiday.

  • 26 Oct 2006

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  • Today
1 JPMorgan 92.59 388 8.96%
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4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

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Bookrunners of all EMEA ECM Issuance

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1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
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