Sterling FRN appetite buoys Westpac NZ

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By Nathan Collins
25 Sep 2014

Westpac New Zealand made its sterling debut this week, highlighting the strength of demand for sterling financial paper, particularly floating rate notes.

Syndicate bankers have been suggesting for several months that the prospect of the Bank of England increasing interest rates in the near future means that demand for sterling floaters could be high, but little supply has been forthcoming so far, in part because of an unhelpful basis swap ...

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