Issuers and investors gain from robust FRN activity

By Nathan Collins
16 Apr 2014

Financial issuers highlighted strong demand for floating rate paper this week, with syndicate bankers expecting issuance to pick up again after the Easter break. Issuers are proving keen to save on funding costs while investors are happy to pick up protection against the possibility of rising rates.

“The demand looks good for floaters,” said a London based FIG syndicate official. “Especially at the five year point on the curve. The levels banks can get are pretty attractive and they can cut out the cost of the basis swap to floating that they’d be paying if ...

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