The Rabobank 10 year transaction, which the market sees as a crucial test of investor sentiment, will give bankers little comfort this week. Despite Rabobank being of the highest quality, appetite for the bonds was limited in comparison to previous years’ transactions from the borrower.
The order book on the transaction was only just over Eu1.5bn for a Eu1.25bn trade and the size was much smaller than 2007’s Eu3bn 10 year, launched in January. To read a full account of the deal and what it means to the wider financial institutions markets, read EuroWeek this week.
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