EUROFIMA increases its 2016 USD floating rate note
On September 24, 2013 EUROFIMA issued a USD 250m increase of its oustanding RegS FRN benchmark due June 10, 2016, bringing the total size to USD 750m.
The transaction was priced at mid-swaps + 9 basis points, in line with initial guidance. Bank of America Merrill Lynch, Barclays and Credit Suisse were the joint-lead managers.
As in the original tranche, the final distribution shows a very strong participation from central banks and official institutions (70%), followed by asset managers (30%). The presence of investors from Asia (44%), Africa/ME (36%), the Americas (11%) and Europe (9%) attests to the good geographical distribution.