SSA

L-Bank brings first €STR FRN with EIB and other SSAs to follow

Supranationals & Agencies

L-Bank brings first €STR FRN with EIB and other SSAs to follow

While it is no surprise that a public sector borrower has brought the first floating rate note linked to the euro short term rate (€STR), it was a surprise that a small German agency would bring the inaugural transaction, especially as it is some weeks before the European Central Bank (ECB) is due to begin publishing the recommended new risk-free rate.

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