RBC looks longer with boldly priced sterling floater

By Nathan Collins
29 May 2014

Royal Bank of Canada and Commonwealth Bank of Australia took to the sterling market on Wednesday. CBA drew solid demand for a fixed rate deal in the belly of the curve, while RBC opted for an unusually long tenored floater.

RBC’s five year deal was brought in response to investor interest in sterling-denominated floating rate notes longer than the more common three year tenor.

“Sterling is an interesting currency for investors looking at floaters,” said Anthony Tobin, head of FIG syndicate at RBC in London. “The UK looks ...

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