Macquarie Bank sterling issue sees strong demand

The unusual two-and-a-half year ú250 million senior FRN is welcomed by bank treasury accounts.

On Tuesday, sole manager HSBC needed less than a day to build a book that easily covered Macquarie Bank's latest issue, a two-and-a-half year ú250 million senior floating rate note FRN sold at a spread of 8 basis points over three-month sterling Libor.

The bond was issued at a price of 99.988 and a coupon of 7.5bp over three-month Libor. The A2 posA stableA stable rated issue expires on August 19, 2009, while settlement is on February 13,...

To continue reading, please login or register for free

Click for more on: macquarie | sterling

Print Edition

FinanceAsia Print Edition