Sterling
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Issuer faced slog to get minimum size done with pricing in line with starting spread -
The deal was driven by demand from banks with very little real money interest
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Three borrowers issued in a range of maturities with longest dated finding strong demand
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The deal was priced flat to its larger Canadian peers
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Sterling market struggles to find solid footing as BoE hints at Gilt sales
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Bankers are hopeful that FIG borrowers who pay for debt in dollars will continue to take advantage of sterling and Swiss franc funding arbitrage
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US banks' euro secondary spreads have widened following a generous, arbitrage funding from Bank of America
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BofA the latest US lender to take advantage of arb in euros and sterling
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Rare FRN structure is not enough of a selling point to move spread during bookbuilding
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First FRN of the year as fixed rates lose their competitiveness
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Both sterling and euro bond markets offer attractive funding levels to US financial institutions keen to get their bond issuance done
