EUROFIMA's first syndicated USD denominated transaction in 2017EUROFIMA today successfully issued a new USD 500 million 2-year Floating Rate Note. The transaction was announced on Monday April 3 with Initial Price Thoughts (IPTs) at 3M USD Libor + 9 bps area and was priced on Tuesday April 4 at 3M USD Libor + 7 bps, following the strong investor support.
Central Banks and Official Institutions underpinned the issue, representing 86% of the allocation, whilst Fund Managers took 10% and Banks the remaining 4% of the book. Geographically, the Americas displayed specifically strong demand (46%), followed by Europe (33%) and Middle East and African investors (11%). Finally Asian accounts represented 10%.
Lead Managers of the transaction were Barclays, BMO, Daiwa Capital Markets and NatWest Markets.