The European Bank for Reconstruction and Development smashed its newly minted size record in sterling with its sophomore effort using the Sonia benchmark. While the sterling market has slowed a touch from the frenetic pace it maintained in January and early February, this week's pair of deals received excellent demand and both were grown from initial expectations. One head of SSA syndicate said: "There is a bit of a slowdown, but it's ...
The EBRD issued its second sterling SONIA-linked bond of the year, printing a 1bn ($£800m) five year global priced off the RFR. IPTs were set at 31bp over SONIA.