New 3 year USD FRN benchmark
EUROFIMA launched and priced today a new 3-year USD 500m RegS FRN benchmark at 3m USD Libor +8bp, following the successful completion of the 2 outstanding USD 1 billion FRN benchmarks maturing in 2015 and 2016. Bank of America Merrill Lynch, Barclays and JP Morgan were the joint-lead managers.
The outcome of the transaction shows a very high quality order book. The deal saw strong participation from central banks and official institutions (75%) and asset managers (25%). The presence of investors from the Americas (32%), Europe (47%) and Africa/Middle East (21%) attests the broad geographical distribution.