Freddie Mac price talk cheapens as book builds slowly
Price talk for Freddie Mac’s Eu5bn three year EuReference Note transaction, which is expected to price on Wednesday, has widened from Libor minus 10bp to minus 9bp, at the same Freddie Mac’s outstanding paper has widened out to minus 9bp. The cheapening has given a fillip to the bookbuilding process, which was not going as well as hoped.
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