IDBI pays up to profit from falling Treasuries

Profit 230x150
By Virginia Furness
23 Oct 2014

IDBI Bank priced a five year dollar bond on October 20. While volatile markets saw the issuer pay some new issue premium, it managed to take advantage of a good window to price just wide of its curve.

“Some people have asked why we went for it in this market,” said a syndicate banker at one of the leads. “But it was an opportunistic move as rates had moved down in the last week. They realised they would have to pay a little bit more new ...

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