Czech Raiffeisenbank issues euro first as TD launches Aussie dollar first

By Bill Thornhill
30 Oct 2014

Czech Raiffeisenbank priced the first publicly syndicated euro benchmark covered bond from the country on Wednesday. At the same time, Toronto Dominion Bank mandated leads for its first Australian dollar covered bond.

Barclays, BNP Paribas and Raiffeisen Bank International (RBI) roadshowed the A2-rated, European Central Bank repo-eligible five year Czech benchmark earlier this month and opened books on Tuesday.

After going out with initial price thoughts at low to mid-30bp area over mid-swaps, guidance was set at 32bp area. ...

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